Levin Johnston has arranged the sale of First Street Manor, a 39-unit community in San Jose, Calif., for $12.5 million. The brokerage team represented the seller and the buyer, both private investors, in the transaction.
Located in the heart of San Jose at 523-530 N. First St., the property is about two miles of the future Google Village and near employers such as Apple, LinkedIn and Facebook. In addition, the community is within 20 miles of Stanford University and less than two miles from San Jose State University. The property is also close to interstates 880 and 280 and freeways 101 and 81. First Street Manor comprises a mix of studio, one- and two-bedroom units. The buyer plans to rebrand the building and fully upgrade its façade.
“San Jose remains a competitive market driven by the nearby tech employers,” said Robert Johnston, senior vice president of Levin Johnston, in prepared remarks. “Given the strong market fundamentals in the Bay Area and the property’s close proximity to various forms of public transit, this is a prime location for owners and residents alike.”
Image courtesy of Levin Johnston