200 South 1st Street

San Jose, CA 95113

$12,000,000
Price
Beds
45,610 Sq. Ft.
$263 / Sq. Ft.
45,610
Sq. Ft.
$263
per Sq. Ft.

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...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!
  1. Listed by Joel Hopman • DRE #01934574 • Brokerage DRE #00586119 • Newmark Cornish & Carey • 415-722-2200
  2. Listed by Steve Zirelli • DRE #01929245 • Brokerage DRE #00586119 • Cornish & Carey Commercial

Property Details for 200 South 1st Street

MLS City Name
SAN JOSE
Building Type
Other
Complex Name
Twohy Lofts
Garage Spaces
0
Parking Spaces
0

Location

Listing Courtesy of Newmark Cornish & Carey, Joel Hopman, DRE #01934574; Cornish & Carey Commercial, Steve Zirelli, DRE #01929245
Add your commute
LISTING UPDATED: 05/17/2024 11:22 AM

Property Details for 200 South 1st Street

StatusActive
MLS #ML81966157
Days on Compass15
Taxes$63,404 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type5+ Units / Five or More Units
Year Built1917
Lot Size0.20 AC / 8,712 SF
CountySanta Clara County

Location

Listing Courtesy of Newmark Cornish & Carey, Joel Hopman, DRE #01934574; Cornish & Carey Commercial, Steve Zirelli, DRE #01929245
Add your commute

Building Information for 200 South 1st Street

Stories-Residences-Year Built1917Building Size-Lot Size0.20 AC / 8,712 SF

Payment Calculator

$70,773 per month

30 year fixed, 7.25% Interest

Principal and Interest

$65,489

Property Taxes

$5,284

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 200 South 1st Street

Features
Features
  • Fireplace: No
  • Living SqFt: 45610
  • Pool: No
  • Security Features: Fire Alarm, Fire System - Sprinkler, Fire System - Suppression, Security Building
  • Special Features: Elevator / Lift
Utilities
  • Cooling: Multi-Zone
  • Heating: Forced Air
  • Meters: Master Gas, Separate Electric
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Metered or Fee
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 35
  • Area Text: Central San Jose
  • Restrictions: None
  • Roof: Polyurethane
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 200
  • Street Name: 1st
  • Street Direction Prefix: South
  • Street Suffix: Street
  • Area ID: 9
Lot / Property Details
Building Information
  • Number of Buildings: 1
  • Structure SqFt: 45610
  • Structure SqFt Source: Assessor
  • Age: 107
Development Information
  • Zoning Detail: DC
Location Information
  • Parcel Number: 467-46-030
  • County Name: Santa Clara
  • City Name: SAN JOSE
  • City Postal ID: 58
  • Postal Code: 95113
  • Elementary School District: 482
  • High School District Text: San Jose Unified
Lot Information
  • Foundation: Quake Bracing, Steel Frame
  • Lot Acres: .20
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 36
General Information
  • Annual Tax Amount: $63,404
  • Capitalization Rate: 5.47
  • Tenant Expenses: Utilities - Electric
  • Income Includes: Coin Operated Equip
  • Vacancy Factor: 4
Income / Expense Details
  • Expense Insurance: $59,167
  • Expense Landscape: $0
  • Expense Maintenance: $55,109
  • Expense Management: $46,991
  • Expense Trash: $63,680
  • Expenses Other: $80,337
  • Expenses Utility: $57,985
  • Expenses Total: $426,673
  • Operating Expenses Include: Fee - Property Management
  • Gross Rent Multiplier: 10.64
  • Income Annual Gross: $1,082,707
  • Income Annual Rental: $1,060,361
  • Income Gross Scheduled: $1,127,820
  • Income Other: $67,459
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 0
  • Unit 1 Rent: $1,744

Property History for 200 South 1st Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 200 South 1st Street

Taxable ValueLand$369,800Additions$3,116,839Total$3,486,639
Home Facts
Total Finished SqFt45,610 SqFtAbove Grade Finished SqFt45,610 SqFtStories5Lot Size8,785 SqFtStyleMulti-Family Res (5+ Units)Year Built1917ZoningDCCountySANTA CLARAAPN467-46-030Fireplace TypeHas Fireplace

Schools near 200 South 1st Street

This home is within San Jose Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 5 to 8
Rating
School
Distance
Horace Mann Elementary School
PublicK to 5

Herbert Hoover Middle School
Public6 to 8

Abraham Lincoln High School
Public9 to 12

Downtown College Preparatory Middle
Charter5 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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200 South 1st Street is a multi-family home for sale in San Jose, CA 95113. This property was listed for sale on May 17, 2024 by Newmark Cornish & Carey, it's currently listed at $12,000,000. It has been on the market for a total of 15 days and was last sold on February 18, 2014. This listing's school district is San Jose Unified School District. Nearby schools include Horace Mann Elementary School, Herbert Hoover Middle School and Abraham Lincoln High School. 200 South 1st Street is a 0-bed, 0-bath, 45,610 sqft multi-family home built in 1917.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Newmark Cornish & Carey, Joel Hopman, DRE #01934574; Cornish & Carey Commercial, Steve Zirelli, DRE #01929245

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.