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

Levin Johnston Closes Apartment Sale in One of San Jose’s Strongest Submarkets
News| October 26, 2026| Paul Bubny
California & West + Apartment Buildings

 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.”

Other News

Associated Bank Completes $17M Loan for Libertyville Apartment Acquisition

Chicago & Midwest + Apartment Buildings

Associated Bank announced the completion of a $16.5 million loan towards the $22 million total acquisition price of Eleven5 Lake Apartments at 115 Lake Street in Libertyville, Illinois. The property is a stabilized mixed-use property with 34 apartment units with 41 dedicated apartment parking spaces, and 25,147 square feet of ground-floor commercial space. The apartments...

Learn more

NYC Investment Sales Top $23 Billion in First Three Quarters of 2026

New York & Tri-State + Apartment Buildings

New York City investment sales reached $23.69 billion across 1,914 transactions in the first three quarters of 2026, up 9.1% and 7.9%, respectively, from a year earlier, Ariel Property Advisors reported. The year’s first half was especially strong, with dollar volume up 36% in Q1 and 31% in Q2, year-over-year. However, dollar volume in Q3...

Learn more

Bell Partners Acquires 261-Unit Ballard Apartment Building for $95M

Seattle & Northwest + Apartment Buildings

Bell Partners, a national apartment owner and property management firm based in North Carolina, has bought the 261-unit Leva on Market building in Seattle’s Ballard neighborhood. Located at 1545 NW Market Street, the property is a mixed-use apartment community featuring studio, one- and two-bedroom units. BlackRock-linked limited liability company Ballard Apartments LLC purchased the land...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up