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6/01/18
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First Street Manor, a 39-unit multifamily community situated in close proximity to Google’s newest proposed tech campus, Google Village, in downtown San Jose, has sold for $12.5 mil, or $320.5k/unit. The buyer plans to perform full facade upgrades to the asset in order to rebrand the property and improve its overall value.
First Street Manor is is located at 523-530 North First St, close to the headquarters of several of the country’s top tech employers such as Apple, LinkedIn, and Facebook. The location provides a variety of dining, shopping and entertainment options to residents. Several distinguished universities such as Stanford University, San Jose University and Santa Clara University are also just a short distance away.
Adam Levin and Robert Johnston with Levin Johnston represented the buyer and seller, both private investors, in the transaction.
“San Jose remains a competitive market driven by the nearby tech employers,” noted Johnston. “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.”
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