Active
200 S 1st ST
SAN JOSE CA, 95113
$12,000,000
$263.10 per sqft
Active
45,610 sqft
Multi-family
Built in 1917
Listed by Newmark Cornish & Carey, Joel Hopman, Steve Zirelli Listing Contact: 4157222200
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!
ML81966157
MLSⓇ ID
May 17, 2024
Listed
August 23, 2024
Updated
Map
200 S 1st ST
SAN JOSE CA, 95113
Interior Features
Interior Features
Elevator
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Forced Air
Exterior/Building Features
Lot Size
0.2 Acres
Sewer
Public Sewer
School Information
School District
482
Other Property Details
Area Name
Central San Jose
Garage
No
View
No
County
Santa Clara
Water Source
Public
Pool
No
Zoning
DC
Listed by Newmark Cornish & Carey, Joel Hopman, Steve Zirelli
Listing Contact: 4157222200
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Data last updated 10:52 AM UTC, 8/23/2024