NOT LISTED FOR SALE

1401 Lexington Dr San Jose, CA 95117

Castlemont Neighborhood
9 Beds
6 Baths
3,928 Sq Ft
6,839 Sq Ft Lot

Last Sold March 17, 2017

Last sale price $1,635,000 $416 Per Sq Ft

143 Days on Market

Highlights

  • Marble Flooring
  • Granite Countertops
  • Coin Laundry
  • Westmont High School Rated A
  • Forced Air Heating System

About This Home

As of March 2017

PRICE REDUCTION. Best CAP Rate: 4.43% on the market. Large 4-Plex in West San Jose. (1) 3/2 Owners Unit, (1) 2/2 and (2) 2/1 units. CURRENT GROSS INCOME: $109,000. Additional income from coin-op laundry. The large 3 bedroom/1 bath unit will be VACANT on November 1st, 2016. New owner will have a chance to bring this unit to market rents. Housing Authority suggest this unit can be rented at $3,385 per month. Located near Campbell, Santana Row, east access to HWY's 880, 17 and 280. Lots of high quality upgrades throughout. Full remodel of Owners unit since 2008. All other units have had lots of work. There are 3 enclosed double garages for tenants. All units have fireplace. All units are month-to-month.

Last Agent to Sell the Property

Christian Losness

Losness Investment Real Estate Corp License #01506985 Listed on: 08/12/2016

Last Buyer's Agent

Quinn Huang

Coldwell Banker Realty License #01251106

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • 1967

Lot Details

  • 6,839 Sq Ft Lot

Parking

  • 6 Car Garage
  • On-Street Parking

Home Design

  • Quadruplex
  • Wood Frame Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,928 Sq Ft Home
  • 2-Story Property
  • Granite Countertops

Flooring

  • Wood
  • Carpet
  • Marble
  • Tile

Utilities

  • Forced Air Heating System
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $109,140
  • Month-to-Month Lease Term

Community Details

Overview

Amenities

  • Coin Laundry

Building Details

  • 4 Leased Units
  • Gardener Expense $960
  • Insurance Expense $1,600
  • Other Expense $720
  • Utility Expense $1,440
  • Trash Expense $1,440
  • Operating Expense $28,600
  • Gross Income $108,194

Property Details

Home Type

Multi-Family

Year Built

1967

Lot Details

0

Parking

6

Listing Details

  • Zoning: RM
  • Subclass: Fourplex
  • Age: 49
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3928
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1967

Interior Features

  • Kitchen: Countertop - Granite, Refrigerator
  • Living Sq Ft: 3928
  • Stories: 2
  • Laundry: Coin Operated
  • Flooring: Carpet, Hardwood, Marble, Tile

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition
  • Construction Type: Wood Frame

Garage/Parking

  • Garage Spaces: 6
  • Parking Spaces: 4
  • Garage Parking Features: Attached Garage, On Street

Utilities

  • Heating System: Central Forced Air, Wall Furnace
  • Sewer/Septic System: Sewer Connected

Schools

  • School District: Campbell Union High

Lot Info

  • Lot Acres: 0.1570
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6830.21
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 6830.21

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 14.78
  • Number Of Leased: 4

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 1600
  • Expense Landscape: 960
  • Expenses Other: 720
  • Expenses Total: 28600
  • Expenses Utility: 1440
  • Expense Trash: 1440
  • Income Annual Gross: 108194.00
  • Income Annual Rental: 109140
  • Income Gross Scheduled: 111540
  • Income Includes: Laundry
  • Income Other: 2400
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Other Taxes, Fee - Property Tax, Insurance, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Water, Vacancy Factor
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 3

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/17/2017 03/17/17 Sold $1,635,000 -0.8% $416 / Sq Ft
01/03/2017 01/03/17 Pending -- -- --
12/16/2016 12/16/16 For Sale $1,649,000 +0.9% $420 / Sq Ft
12/16/2016 12/16/16 Off Market $1,635,000 -- --
12/09/2016 12/09/16 Price Changed $1,649,000 -2.1% $420 / Sq Ft
12/02/2016 12/02/16 For Sale $1,685,000 +3.1% $429 / Sq Ft
12/01/2016 12/01/16 Off Market $1,635,000 -- --
11/14/2016 11/14/16 For Sale $1,685,000 +3.1% $429 / Sq Ft
11/09/2016 11/09/16 Off Market $1,635,000 -- --
10/21/2016 10/21/16 Price Changed $1,685,000 -5.1% $429 / Sq Ft
09/19/2016 09/19/16 Price Changed $1,775,000 -1.4% $452 / Sq Ft
08/12/2016 08/12/16 For Sale $1,800,000 -- $458 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2017

    Christian Losness

    Losness Investment Real Estate Corp

    Section Image
  • Quinn Huang

    Buyer's Agent in 2017

    Quinn Huang

    Coldwell Banker Realty

    (408) 921-6478

    1 in this area

    15 Total Sales

    Section Image
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Map

Source: MLSListings

MLS Number: ML81599797

MLSListings

APN: 305-07-032

California Santa Clara County San Jose 95117 Castlemont

1401 Lexington Dr, San Jose, CA

This home is located at 1401 Lexington Dr, San Jose, CA 95117 since 12 August 2016. This property was built in 1967. 1401 Lexington Dr is a home located in Santa Clara County with nearby schools including Rosemary Elementary School, Westmont High School, and Castlemont Elementary School.

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