200 1st Street, San Jose

$12,000,000

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0.20

Acres

Listing Agent
Joel Hopman - Newmark Cornish & Carey

About 200 1st Street

Newmark, as an exclusive advisor is proud to present the Twohy Lofts in vibrant Downtown San Jose. The 5-story building consists of 36 Loft Style units and ground floor retail which has recently undergone significant renovations to seismic, mechanical and electrical systems providing old world charm coupled with a modern infrastructure. An investor can acquire this historic, but like-new building at a significant discount to replacement cost. The high-identity classic revival architecture building sits prominently on the Paseo de San Antonio and S. 1st Street. The ground floor features approximately 8,350 sq ft of retail space currently occupied by Scotts Seafood and San Jose Candy Kitchen. Ornate details true to period of its original 1917 construction can be found throughout the building. While the assets financial performance is stable, NOI optimization can be enhanced through a combination of embedded rent increases coupled with unit modernization upon turnover. The property is not subject to San Joses Apartment Rent Ordinance and is on the Mills Act which provides substantial property tax abatement. San Jose State University, with a growing 36,000+ student body and another 3,700 in employees is a mere four blocks away. WalkScore of 96!

Features of 200 1st Street

MLS® # ML81966157
Price $12,000,000
Bathrooms 0.00
Acres 0.20
Year Built 1917
Type Commercial Sale
Status Active

Community Information

Address 200 1st Street
Area 699 - Not Defined
City San Jose
County Santa Clara
Zip Code 95113

Amenities

Is Waterfront No
Has Pool No

Interior

Heating Forced Air
Has Basement No
Fireplace No

School Information

District San Jose Unified

Additional Information

Date Listed May 17th, 2024
Days on Market 59
Zoning DC
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentJoel Hopman
OfficeNewmark Cornish & Carey

Listing Map

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