200 S 1St Street, San Jose, CA 95113
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Listed Price :
$12,000,000
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Beds :
N/A
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Baths :
-
Property Size :
N/A sqft
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Year Built :
1917
Property Description
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!
Interior Features
| Bedroom Information |
| Bedrooms |
N/A |
Listing Information
| Address |
200 S 1St Street |
| City |
San Jose |
| State |
CA |
| Zip |
95113 |
| County |
Santa Clara |
| Listing Agent |
Joel Hopman DRE #01934574 |
| Co-Listing Agent |
Steve Zirelli DRE #01929245 |
| Courtesy Of |
Newmark Cornish & Carey |
| List Price |
$12,000,000 |
| Status |
Active |
| Type |
Commercial |
| Structure Size |
N/A |
| Lot Size |
8,712 |
| Year Built |
1917 |
Listing information courtesy of: Joel Hopman, Steve Zirelli, Newmark Cornish & Carey. *Based on information from the Association of REALTORS/Multiple Listing as of Aug 18th, 2024 at 12:40 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
