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Levin Johnston Closes Apartment Sale in One of San Jose’s Strongest Submarkets

 Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. 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,” said 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 More News Stories About: Marcus & Millichap
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 19-plus years’ experience covering the commercial real estate industry and 35-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 11-15 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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