464 Lewis Rd, San Jose, CA 95111
LISTED AT $1,780,000
4-Unit Multifamily | 100% Occupied | High-Demand South San Jose Investment
Located in a high-demand residential pocket of South San Jose, 464 Lewis Rd is a fully leased, four-unit multifamily investment featuring long-term tenants, consistent income, and month-to-month flexibility. Each unit offers a spacious 2-bedroom, 1-bathroom layout, and all leases are M2M, providing the opportunity to adjust rents to market with minimal turnover or renovation costs. With current rents trailing market by approximately 38%, this property offers clear upside through natural turnover and light improvements.
The building sits on a 9,945 SF lot and includes an income-generating on-site laundry room, while the structure spans 3,277 SF configured as four equally sized units. With a proven history of tenant retention, 464 Lewis offers the ideal balance of cash flow stability and rent growth flexibility — a rare combination in today’s supply-constrained South Bay market.
Whether you’re an investor seeking low-vacancy income or executing a 1031 exchange, this asset delivers on the fundamentals: 100% occupancy, proven tenancy, and built-in income expansion potential in one of San Jose’s most established and landlord-friendly rental corridors.
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APN: 497-27-005
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)
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Total Units: 4
Unit Mix: Four (4) 2BD / 1BA
Unit Size: Approx. 830 SF per unit
Building Size (MLS): 3,277 SF
Year Built: 1962
Flooring: Vinyl/tile (typical for this asset class)
Heating/Cooling: Wall-mounted gas heaters, no central A/C
Interior Features: Efficient layouts, long-term tenants, income-producing coin laundry,
well-maintained interiors
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Current Monthly Rent: $8,160
Annual Collected Rent: $97,920
Market Rent Potential: $11,280/month ($135,360/year)
Upside Potential: ~38% increase in gross income through rent repositioning
Security Deposits Held: $3,550
Estimated Property Tax (2024): ~$10,498 (buyer to verify)
Financing Terms: Cash, Conventional, 1031 Exchange
Disclosures: Buyer to verify all square footage, rents, unit condition, lease terms, and
income figures.
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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
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Showing Instructions: Drive-by only. Please do not disturb tenants. Interior access will be granted only upon accepted offer. Buyer to conduct independent due diligence on leases, laundry income, market rents, and property condition.
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