$ 12,000,000
200 S 1st ST San Jose, CA 95113
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 12,000,000
Est. payment /mo
Active
200 S 1st ST San Jose, CA 95113
45,610 SqFt
UPDATED:
09/30/2024 06:38 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 45,610 sqft
Price per Sqft $263
MLS Listing ID ML81966157
HOA Y/N No
Year Built 1917
Annual Tax Amount $63,404
Lot Size 8,712 Sqft
Acres 0.2
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!
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning DC
Interior
Heating Forced Air
Fireplace No
Building
Water Public
Schools
School District San Jose Unified
Others
Tax ID 46746030
Security Features Fire Sprinkler System
Special Listing Condition Standard
Listed by Joel Hopman • Newmark Cornish & Carey