200 S 1st ST, San Jose, CA 95113

$12,000,000
45,610
SqFt
List Price
$12,000,000
MLS#
ML81966157
Status
ACTIVE
Property Type
com
Sqft. of Residence
45,610
Lot Size
8,712
Listing Area
Central San Jose
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!

Additional Information

Acres
0.20
Age
107
Building Name
Twohy Lofts
Cooling System
Multi-Zone
Foundation
Quake Bracing, Steel Frame
Garage Parking
Metered or Fee
Heating System
Forced Air
Living Area
45,610
Lot Size
8,712
Neighborhood
Central San Jose
Other Utilities
Public Utilities
Roof
Polyurethane
Sewer
Sewer - Public
Special Features
Elevator / Lift
Unincorporated Yn
Yes
Zoning
DC

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Joel Hopman from Newmark Cornish & Carey. 415-722-2200

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