450 Lewis Rd, San Jose, CA 95111
LISTED AT $1,780,000
4-Unit Multifamily | 100% Leased | Prime South San Jose Investment
Located in a high-demand rental corridor just off Capitol Expressway, 450 Lewis Rd presents a rare opportunity to acquire a stabilized, fully leased 4-unit multifamily asset with immediate upside potential. Each of the four spacious 2-bedroom, 1-bathroom units is currently leased on M2M terms, allowing for flexible repositioning and near-term rent increases. Current rental income is significantly below market, providing a clear path to elevate NOI and asset value.
The property sits on a 9,945 SF lot with a 3,328 SF building, including an on-site coin-operated laundry room that adds supplemental income. Well-proportioned units and long-term tenants support a low-vacancy, high-retention profile in one of San Jose’s most resilient submarkets.
Whether you’re a local investor or executing a 1031 exchange, this asset checks all the boxes: cash flow day one, organic rental upside, and core Silicon Valley fundamentals. With minimal capital investment, rents can be brought to market, unlocking $30,000+ in annual income growth while preserving long-term equity.
-
APN: 497-27-004
Listing Price: $1,780,000
MLS Area: South San Jose
County: Santa Clara
Property Type: Residential Income (Multifamily)
Building Subtype: 4-Unit Apartment Building
Zoning: R3H (Multi-Family Residential)
Ownership Type: Fee Simple
Occupancy: 100% (All tenants on M2M leases)
-
Total Units: 4
Unit Mix: Four (4) 2BD / 1BA
Unit Size: Approx. 832 SF per unit
Building Size (MLS): 3,328 SF
Year Built: 1962
Flooring: Vinyl plank and tile (varies by unit)
Heating/Cooling: Wall-mounted heating, no central A/C
Interior Features: Large living areas, long-term tenants, value-add upgrade potential, coin
laundry access
-
Lot Size: 9,945 SF (0.23 acres)
Parking: Driveway and on-site surface parking (buyer to verify)
Roof: Composition Shingle (condition appears fair)
Construction: Wood Frame with Stucco Exterior
Additional Features: On-site laundry (CSC), mature landscaping, centrally located with
easy access to shopping, schools, and public transit
-
For further information or to schedule a private tour, please contact:
Chesca Joan Pagkalinawan REALTOR®
DRE License #: 02187076
Phone: (424) 468-3669
Office: (408) 854-0828
Email: chesca@nexthomeaxisrealty.com
Brokerage: NextHome Axis Realty
Office Address: 2690 S White Road, Suite 110, San Jose, CA 95148
Website: NextHomeAxisRealty.com
-
Showing Instructions: Drive-by only at this time — please do not disturb tenants. Interior access will be granted upon accepted offer. Buyer to independently verify unit interiors, rent rolls, laundry income, and lease terms.
SCHEDULE A CONSULTATION
SCHEDULE A CONSULTATION
CONTACT US NOW
YOUR GOALS. OUR EXPERTISE. ONE EMPOWERING CONVERSATION.
At MSLUXEY, we believe clarity creates confidence. Whether you’re navigating a real estate move, seeking tailored insurance solutions, or planning your next wealth-building strategy — your journey starts with a free, one-on-one consultation designed around you.
BOOK NOW AND LET’S ELEVATE YOUR EMPIRE.
[Schedule Your Consultation]
HOURS
MONDAY-FRIDAY 10:00 AM - 6:00 PM
SATURDAY 10:00 AM - 4:00 PM
SUNDAY CLOSED
EMAIL ALL DOCUMENTS TO:
CHESCA@MSLUXEY.COM