NOT LISTED FOR SALE

494 N 4th St San Jose, CA 95112

Japantown Neighborhood
4 Beds
4 Baths
1,882 Sq Ft
5,663 Sq Ft Lot

Last Sold October 13, 2022

Last sale price $1,450,000 $770 Per Sq Ft

12 Days on Market

Highlights

  • 4 Car Detached Garage
  • 1-Story Property
  • 5-minute walk to Japantown/Ayer Station

About This Home

As of October 2022

494 N 4th St is a stunning 4-unit apartment complex located in the heart of San Jose, CA. Situated on a 5,873 square foot parcel of land, the subject property was originally constructed in 1985 and has a gross building area of approximately 1,882 square feet, offering its tenants beautifully designed one-bedroom floor plans. 494 N 4th St presents a rare opportunity for an investor to acquire an exceptional multifamily property in one of the most desirable locations in the Silicon Valley. The subject property is located adjacent to Japan town and walking distance to the bustling downtown San Jose (.65 mi) featuring a myriad of local artisanal dining, retail, and entertainment experiences. 494 N 4th St is also less than a mile from San Jose State University which has a diverse enrollment of over 36,000 students and over 3,700 employees across 9 colleges.

Last Agent to Sell the Property

Eymon Binesh

Marcus & Millichap License #02060059 Listed on: 08/31/2022

Co-Listed By

Robert Johnston

Marcus & Millichap License #01853816

Last Buyer's Agent

Ravi Shah

Elite Realty Services License #01359474

Elite Realty Services

Property Details

Home Type

  • Multi-Family

Year Built

  • 1985

Lot Details

  • 5,663

Parking

  • 4 Car Detached Garage
  • Off-Street Parking

Home Design

  • Quadruplex
  • Slab Foundation
  • Shingle Roof
  • Composition Roof

Interior Spaces

  • 1,882 Sq Ft Home
  • 1-Story Property

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $94,671
  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gardener Expense $1,800
  • Insurance Expense $930
  • Maintenance Expense $2,000
  • Other Expense $900
  • Utility Expense $900
  • Operating Expense $24,575
  • Gross Income $91,831

Property Details

Home Type

Multi-Family

Year Built

1985

Lot Details

0

Parking

4

Listing Details

  • Zoning: RM
  • Subclass: Fourplex
  • Age: 37
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1882
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1985

Interior Features

  • Living Sq Ft: 1882
  • Stories: 1

Exterior Features

  • Foundation: Concrete Slab
  • Roof: Composition, Shingle

Garage/Parking

  • Garage Spaces: 4
  • Garage Parking Features: Detached Garage, Off-Street Parking

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer Connected

Schools

  • School District: San Jose Unified

Lot Info

  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5873.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5873.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 13.61
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 930
  • Expense Landscape: 1800
  • Expense Maintenance: 2000
  • Expenses Other: 900
  • Expenses Total: 24575
  • Expenses Utility: 900
  • Income Annual Gross: 91831.00
  • Income Annual Rental: 94671
  • Income Gross Scheduled: 94671
  • Income Includes: Rents
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Other Taxes, Insurance, Maintenance, Maintenance - Exterminator, Maintenance - Repair, Services - Gardener, Utilities
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 3

Range of Values:

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Average Value
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List Price
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
10/13/2022 10/13/22 Sold $1,450,000 +12.6% $770 / Sq Ft
09/13/2022 09/13/22 Pending -- -- --
08/31/2022 08/31/22 For Sale $1,288,000 -- $684 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Eymon Binesh

    Seller's Agent in 2022

    Eymon Binesh

    Marcus & Millichap

    (650) 391-1700

    2 in this area

    66 Total Sales

    Eymon Binesh
    Section Image
  • Robert Johnston

    Seller Co-Listing Agent in 2022

    Robert Johnston

    Marcus & Millichap

    (510) 304-8077

    4 in this area

    138 Total Sales

    Robert Johnston
    Section Image
  • Ravi Shah

    Buyer's Agent in 2022

    Ravi Shah

    Elite Realty Services

    (408) 391-0199

    1 in this area

    10 Total Sales

    Ravi Shah
    Section Image

  • K

    Buyer's Agent in 2022

    K. Martin White

    K. Martin White, Broker

    Section Image
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Map

Source: MLSListings

MLS Number: ML81905736

MLSListings

APN: 249-45-032

California Santa Clara County San Jose 95112 Japantown

494 N 4th St, San Jose, CA

This home is located at 494 N 4th St, San Jose, CA 95112 since 31 August 2022. This property was built in 1985. 494 N 4th St is a home located in Santa Clara County with nearby schools including Grant Elementary School, Muwekma Ohlone Middle, and San Jose High School.

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