551 Northlake Drive, San Jose, California 95117, San Jose, 95117 - 0 bed, 0 bath
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San Jose, California 95117
This Strategic Multi-Family Asset is listed at $1,830,000, representing a stable valuation aligned with its $1,825,838 Fair Market Value. Currently generating $95,580 in annual gross income, the property is situated in a premier tech-hub location minutes from Apple, Google, and Netflix. Featuring a Condition Rating of 4, the asset benefits from a newer roof and siding, while dated interiors offer significant value-add potential through modernization. This fully-occupied quadruplex is a high-utility acquisition ideal for Buy-and-Hold Investors or Owner-Occupants looking to house-hack in West San Jose.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 551 Northlake Drive Subject | $1,830,000* List Price | 0 | 0 | 2,992 | $610 | - |
A 1112 Nottingham Place Sold | $1,550,000 | 0 | 0 | 2,372 | $653 | 0.8 mi |
B 3228 Neal Avenue Active | $1,850,000 List Price | 0 | 0 | 2,552 | $725 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
While the property has received essential exterior updates such as a newer roof, siding, and fresh paint within the last 5 years, the interiors remain largely dated. The units feature older kitchen cabinetry, tile countertops, wall heaters, and popcorn ceilings. Additionally, the exterior concrete parking area shows significant cracking. The property is well-maintained and functional but lacks the comprehensive modern renovations required for a higher rating.
Situated in the Northlake neighborhood of West San Jose, the property is minutes from major employers like Apple, Google, and Netflix, ensuring high tenant demand and low vacancy rates.
Significant upgrades including a newer roof, front siding, water heater, and appliances (approx. 5 years old) reduce immediate maintenance costs and enhance the property's longevity.
The quadruplex is fully rented with a gross annual income of $95,580, and the majority of month-to-month tenancies allow an investor to quickly adjust rents to market rates.
With 92 days on the market and multiple price reductions from the original $1.95M, the property has faced challenges in securing a buyer at its initial valuation.
Built in 1960, the property may require ongoing attention to original systems, such as plumbing or electrical, that were not included in the recent cosmetic and roof upgrades.
Well-maintained fourplex centrally located in the Northlake neighborhood of West San Jose. All four units are 2BR/1BA with $95,580 annual gross income. First-floor units feature double-pane windows and laminate wood flooring. Recent upgrades include newer roof, front siding, water heater, and appliances (approx. 5 years), and freshly painted exterior. Fully rented with majority month-to-month tenancies, providing immediate cash flow for owner-occupied or investors. Prime location near Apple, Google, Netflix, eBay, Santana Row, and major commute routes including Hwy 280/880, San Tomas, and Lawrence Expressway.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,992 | 2,372 | 67% |
| Lot Size | 6,535 | 6,600 | 33% |
| Price | $1.83M | $1.55M | 67% |
| Price per sq ft | $612 | $653 | 33% |
| Built year | 1960 | 1960 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 98 | 138 | 33% |
Apr 16, 2026
$1,830,000
$1,888,000
-3% Price Drop
Initial Listing
Feb 21, 2026
$1,888,000
$1,950,000
-3% Price Drop
Initial Listing
Jan 14, 2026
$1,950,000
Initial Listing
Jul 14, 2020
$1,620,000
Public Record
Jun 30, 2005
$850,000
Public Record