523-530 N 1st St
San Jose, CA 95112
First Street Manor · Multifamily Property For Sale · 39 Units

Marcus & Millichap has been selected to exclusively market for sale First Street Manor, a stunning, recently renovated, 39 unit apartment community located at 523 - 530 North 1st Street in the thriving downtown of San Jose, CA. Situated on one parcel totaling .85 acres of land, the subject property was originally constructed in 1948 and has a gross livable area of approximately 18,320 total square feet, offering its tenants quality studio, one and two-bedroom floorplans to call home. First Street Manor consists of 12 two-bedroom/one-bathroom units, 7 one-bedroom/one-bathroom units,and 20 studio units. Residents at First Street Manor enjoy multiple convenient community amenities including on-site coin operated laundry facilities, secured gated perimeter providing safety and privacy, and a secluded central courtyard area. The investment appeal of this asset is driven by San Jose’s strong employment fundamentals and low vacancy levels. With a world class location in the heart of Silicon Valley, First Street Manor presents an attractive choice for South Bay renters due to the close proximity to major employers, transportation corridors, shopping, dining and entertainment. San Jose is the third-largest city by population in California, tenth largest by population in the United States and the county seat of Santa Clara County. It is the largest city within the Bay Area as well as the largest city in Northern California. The large concentration of high-technology engineering, computer and microprocessor companies around San Jose has led the area to be known as the Silicon Valley. As the largest city in the valley, San Jose has billed itself as The Capital of the Silicon Valley. San Jose is now considered to be a global city and notable for its affluence and high cost of living. First Street Manor sits directly across from the Japantown/Ayer San Jose Light Rail Station which provides access to numerous locations across the Silicon Valley including Downtown Mountain View, Downtown Campbell, and San Jose International Airport. Additionally the thriving downtown area, San Jose State University, and Japantown are within walking distance. The notable attractions include the Guadalupe River Park, Cathedral Basilica of St. Joseph, SAP Center, San Jose Museum of Art, and a myriad of fine dining, shopping, and entertainment options. Google Village, the giant proposed tech campus for Google, is planned for the Downtown Diridon Station area which sits just 0.7 miles from the subject property. First Street Manor is located within half an hour of many distinguished educational institutions including Stanford University, San Jose State University, and Santa Clara University. As part of the Silicon Valley, high-tech companies such as Ebay!, Cisco Systems, IBM, Adobe Systems, Intel, LinkedIn, Apple, Yahoo!, Google, Facebook and many others are also located within close proximity.