6.90% Current Cap & Rental Upside!
10 Unit Apartment Building | $3,195,000 ($319,500/Unit) | 6.90% Cap Rate | Hayward, CA 94544
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $3,195,000
- Property Type
-
Multifamily
- Square Feet
- 7,560 SF
Listing Contacts
Steven Pinza
Verified Profile
- Property Info
Property Overview
The Pinza Group is excited to showcase 517–523 Schafer Rd, which includes five duplexes, each with 2 bedrooms and 1 bathroom, on an expansive 1.079-acre lot. Every unit has separate gas and electricity meters, a private backyard, attached garages, and plenty of street parking for visitors. Tenants are responsible for paying their own utilities, enabling investors to maximize rental income and minimize operating costs. Additionally, each unit comes with air conditioning and washer/dryer hookups to enhance tenant satisfaction. This parcel is zoned for RM: Medium Density Residential, allowing for a maximum of 17 units to be developed, as per the city and planning department of Hayward. The property is 100% occupied, producing a healthy rental income stream, and situated in the prime Hayward Tennyson location close to schools, shopping, commute options, and downtown Hayward.
517-523 Schafer Rd is in a quaint, Bay Area neighborhood in the city of Hayward. The neighborhood is conveniently located along Interstate 880 and is about 10 minutes from the parks and beaches along the San Francisco Bay, such as the Eden Landing Ecological Reserve. Hayward Executive Airport is just a short drive away, as is Southland Mall and sprawling golf courses. Inside the neighborhood, ranch-style houses and green spaces like Weekes Community Center Park make up the area. While residents can easily travel to world-class restaurants in the Bay Area, the neighborhood has a variety of restaurants situated along Tennyson Road. Harder-Tennyson’s rental market is made up of a variety of low-rise apartments as well as a few condos situated along the eastern side of town.
517-523 Schafer Rd is in a quaint, Bay Area neighborhood in the city of Hayward. The neighborhood is conveniently located along Interstate 880 and is about 10 minutes from the parks and beaches along the San Francisco Bay, such as the Eden Landing Ecological Reserve. Hayward Executive Airport is just a short drive away, as is Southland Mall and sprawling golf courses. Inside the neighborhood, ranch-style houses and green spaces like Weekes Community Center Park make up the area. While residents can easily travel to world-class restaurants in the Bay Area, the neighborhood has a variety of restaurants situated along Tennyson Road. Harder-Tennyson’s rental market is made up of a variety of low-rise apartments as well as a few condos situated along the eastern side of town.
Property Details
- Class
- C
- Year Built/Renovated
- 1962/2000
- Stories
- 1
- Property Subtype
- Storefront Retail/Residential, Manufactured Housing/Mobile Home, Dormitory
- Lot Size (sq. ft)
- 47,045 SF
- Units
- 10
Highlights
- Ten Units Comprised of Five 2bd/1bth Duplexes, All With Attached Garages and Parking for Guests
- Tenants Pay All Utilities-Keeping Expenses at a Minimum
- On-Site Amenities Include One Car Garages, Wall Furnaces, Air-Conditioning, and Washer/Dryer Hookups in Each Unit, Enhancing Tenant Satisfaction
- Situated on a 1.079-Acre Lot, This Parcel Is Zoned for RM: Medium Density Residential, Allowing Investors to Develop a Maximum of 17 Total Units
- Prime Location on Harder-Tennyson, Strategic Access to All Major Employment Centers in The San Francisco Bay Area
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