3691 Cape Cod Ct Immeuble residentiel 4 lots 1 677 968 € (419 492 €/Lot) Taux de capitalisation 4,12 % San Jose, CA 95117

This well-maintained fourplex provides an opportunity for either an investor interested in exchanging a smaller property into a
multifamily property or a compelling entry point for first-time multifamily investors seeking stable cash flow in a proven rental
market. Located in West San Jose's desirable rental corridor, the property offers four spacious units totaling 3,584 square feet on a
7,260 SF lot.
The unit mix includes one three-bedroom/two-bathroom townhouse (1,120 SF) currently renting at $3,213 monthly, and three two-
bedroom/one-bathroom units (768 SF each) with the three rented units generating $2,600, $2,495 & $2,495 respectively. Total
monthly rental income of $10,803 provides immediate cash flow while rents remain positioned near current market rates, offering
potential upside as leases turn.
With a 4.25% cap rate and 14.9 GRM, the property performs favorably against comparable assets averaging a 3.1% cap rate and 18.8
GRM. The superior GRM indicates favorable pricing relative to gross income, while the cap rate suggests stable, defensible returns in
this competitive market.
What distinguishes this opportunity is the exceptional capital investment totaling more than $275,000 systematically deployed
since 2013. The owner has methodically upgraded many major building components and all unit interiors. Most significantly, 2024
saw complete replacement of all plumbing infrastructure including supply lines and sewer systems ($60,850), a new roof installed in
2022 ($36,156), water heater replacement (2020), exterior paint (2024), comprehensive termite treatment including fumigation,
repaired woodwork, new heaters in certain units, and new landscaping (2024).
All unit interiors have been renovated in phases: Unit 2 received extensive remodeling in 2024 ($58,634), Unit 4 was updated in 2021
($28,147), Unit 3 in 2017 ($16,580), and Unit 1's townhouse configuration saw kitchen/bath upgrades in 2013 plus recent downstairs
bathroom remodel in 2025 ($8,810).
These proactive upgrades significantly reduce near-term capital expenditure requirements—an important consideration for
investors new to property ownership seeking predictable operating expenses.
The location provides inherent rental demand advantages, positioned just two miles from downtown Campbell and under three
miles from Santana Row and Valley Fair Mall. Proximity to major tech employers including Apple, Google, Facebook, LinkedIn, and
Nvidia ensures consistent tenant interest from quality employment sectors with strong income profiles.
Built in 1964 with stucco and wood siding construction on concrete perimeter foundation, the property combines classic Cape Cod
charm with comprehensively modernized systems. For investors seeking a turnkey multifamily asset with documented capital
improvements, favorable metrics relative to market comparables, and location fundamentals supporting long-term value, this
fourplex merits serious consideration as a foundational investment property.