Marcus & Millichap Sells First Street Manor Multifamily In San Jose For $9.112M

The multifamily property located at 523 North 2nd Street in San Jose, CA, encompasses 39 units and spans 18,305 square feet. This apartment community, on a 0.87-acre lot, was sold for $9,112,000, translating to a price per unit of $233,641 and a price per square foot of $498.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,112,000
• Units: 39
• Square Footage: 18,305
• Address: 523 North 2nd Street
• Market: San Jose, CA
• Acres: 0.87
• Price Per Unit: $233,641
• Price Per Square Foot: $498

Adam Levin, Robert Johnston, and Cole Simpson of Marcus & Millichap were involved in this transaction, representing the seller and procuring the buyer. The property, known as First Street Manor, is noted for its potential for value-add through further renovations and modernization.