As featured in CityBiz - September 29, 2026
Levin Johnston of Marcus & Millichap has completed the sale of First Street Manor, a 39-unit apartment community in San Jose, California. Executive Managing Directors Adam Levin and Robert Johnston, along with Senior Director, Investments Cole Simpson, represented the seller and procured the buyer in the $9.112 million transaction.
The Levin Johnston team demonstrated the asset’s upside potential and runway for growth amid strong market fundamentals, helping all parties navigate the deal and bringing it to a successful close, according to Levin.
“While previous ownership had maintained the asset and completed roofing and interior renovations, the 1948-vintage property still offers significant opportunity for enhancement and modernization to add to the curb appeal,” says Levin. “For the seller, this was a chance to move out of a more management-intensive holding and capitalize on the market to redeploy into a strategy that fits their goals. For the buyer, it is a value-add opportunity in one of San Jose’s strongest rental submarkets, with real upside still to capture.”
Read the full article here.
