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1179 Mesa Dr 4 Unit Apartment Building $1,625,000 ($406,250/Unit) 4.65% Cap Rate San Jose, CA 95118
Investment Highlights
- Strong investment opportunity with immediate income growth by leasing the vacant, newly remodeled unit at full market rent
- Efficient property design with functional layouts, featuring a private balcony or yard for each unit and dedicated carport parking
- Excellent connectivity with easy access to Almaden Expressway and Highway 85
- Attractive unit mix of 2-bedroom / 1-bathroom layouts, appealing to stable, long-term renters
- Prime San Jose location near Almaden Plaza and Whole Foods, offering convenient access to shopping and dining
Executive Summary
Magnify is pleased to present 1179 Mesa Dr, a 4-unit investment opportunity located in a desirable San Jose neighborhood. This 4plex features a unit mix of spacious 2-bedroom/1-bathroom floorplans. A standout feature of this asset is that one unit is currently vacant and newly remodeled, presenting a unique opportunity for an owner-occupant buyer to move right in, or for an investor to instantly maximize cash flow by placing a tenant at full market rent.
The property features functional layout designs where each unit enjoys its own private balcony or yard space. Residents benefit from dedicated covered carport parking and comfortable amenities that heavily support long-term tenant retention.
Strategically located just blocks from Almaden Plaza and Whole Foods, 1179 Mesa Dr offers tenants a highly convenient lifestyle surrounded by a wide range of premier retail, dining, and everyday conveniences. The property's excellent location features easy access to major corridors like Almaden Expressway and Highway 85, providing a seamless commute to major Silicon Valley tech hubs and making this a prime acquisition for buyers seeking the perfect balance of current income, flexibility, and long-term appreciation.
The property features functional layout designs where each unit enjoys its own private balcony or yard space. Residents benefit from dedicated covered carport parking and comfortable amenities that heavily support long-term tenant retention.
Strategically located just blocks from Almaden Plaza and Whole Foods, 1179 Mesa Dr offers tenants a highly convenient lifestyle surrounded by a wide range of premier retail, dining, and everyday conveniences. The property's excellent location features easy access to major corridors like Almaden Expressway and Highway 85, providing a seamless commute to major Silicon Valley tech hubs and making this a prime acquisition for buyers seeking the perfect balance of current income, flexibility, and long-term appreciation.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,625,000 | Apartment Style | Low-Rise |
| Price Per Unit | $406,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.65% | Building Size | 3,364 SF |
| Gross Rent Multiplier | 14.3 | Average Occupancy | 75% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 2.38/1,000 SF |
| Zoning | R3H, San Jose | ||
| Price | $1,625,000 |
| Price Per Unit | $406,250 |
| Sale Type | Investment |
| Cap Rate | 4.65% |
| Gross Rent Multiplier | 14.3 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,364 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 2.38/1,000 SF |
| Zoning | R3H, San Jose |
Amenities
Unit Amenities
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 835 - 847 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
20/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 567-52-031 | Total Assessment | $1,581,579 |
| Land Assessment | $1,137,827 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $443,752 | Tax Year | 2025 |
Property Taxes
Parcel Number
567-52-031
Land Assessment
$1,137,827
Improvements Assessment
$443,752
Total Assessment
$1,581,579
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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1179 Mesa Dr
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