Investment Overview

Marcus & Millichap is proud to exclusively present 556–558 North 4th Street, a well-maintained duplex investment opportunity in the heart of San Jose’s historic Japantown. Built in 1978, this single-story property features two spacious two-bedroom, one-bathroom units totaling 1,884 square feet of rentable space, situated on a 6,302-square-foot lot. The back unit (558) is currently vacant and move-in ready, while the front unit (556) will be vacated by the end of June, providing investors or owner-users with maximum flexibility. Located just steps from Roy’s Station and the shops, restaurants, and cultural landmarks of Japantown, the property offers a walkable, community-oriented environment with close proximity to downtown San Jose and Silicon Valley job centers. San Jose continues to rank among California’s most competitive rental markets. According to a 2025 report by the Bay Area Metro Center, the city has one of the lowest vacancy rates in the state at just 3.3 percent, with an average of 12 renters competing for each available unit (Bay Area Metro Center, 2025). Meanwhile, rents have remained resilient, with average two-bedroom units in San Jose commanding $3,244 per month as of April 2025 (The Luxury Playbook, 2025). This strong rent performance is supported by limited new housing supply, increasing in-migration, and the city’s role as a core employment hub within Silicon Valley. Further bolstering local housing demand is continued expansion by major tech companies in the region. Most notably, Nvidia acquired a 13-acre office complex in nearby Santa Clara for $123 million in early 2025, a sign of sustained long-term investment by leading firms in the valley (SFGate, March 2025). This acquisition, along with other large-scale tech leases throughout San Jose, reinforces the strength of the local economy and the demand for well-located rental housing. 556–558 North 4th Street presents a rare opportunity to acquire a clean, move-in-ready asset in one of San Jose’s most character-rich neighborhoods, with immediate upside through lease-up and long-term appreciation potential.