Schafer Place
30 Unit Apartment Building | $8,395,000 ($279,833/Unit) | 6.67% Cap Rate | Hayward, CA 94544
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $8,395,000
- Property Type
-
Multifamily
- Square Feet
- 17,340 SF
Listing Contacts
Steven Pinza
Verified Profile
- Property Info
Property Overview
Welcome to Schafer Place Apartments. With an enticing assortment of 20 1bd/bth units, 9 1b/1bth units, and one 3bd/1bth unit, this 30-unit gem guarantees a diverse and lucrative investment opportunity. Spanning across a 1.309- acre lot, complete with 8 covered and 34 uncovered carport spaces, on-site laundry facilities, and energy efficient solar panels, this property is ideal for seasoned or new investors. Extensive capital improvements have been made to the units, including beautifully stained hardwood style flooring, new appliances, including GE Stainless Steel kitchen appliances, glass-top stoves, and quartz countertops. Investors are shown the potential value
creation achieved by maximizing the monetization of parking fees to increase income and the opportunity to raise rents in 2024 by 5%
Schafer Place Apartments is situated in Harder-Tennyson, 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 are Southland Mall and sprawling golf courses.
Hayward is currently one of the last remaining Bay Are a rental markets, with average rents just over $2,000 per month. Due to increased demand for affordable housing in the Bay Area & the recent flight to suburban locales, renters have started relocating to the Hayward market for rent relief. With overall vacancy in the City of Hayward hovering around 4% & with few housing developments in the pipeline, Hayward is expected to see tremendous rent growth as demand for housing continues to outpace supply.
EMAIL: [email protected] FOR MORE INFORMATION
creation achieved by maximizing the monetization of parking fees to increase income and the opportunity to raise rents in 2024 by 5%
Schafer Place Apartments is situated in Harder-Tennyson, 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 are Southland Mall and sprawling golf courses.
Hayward is currently one of the last remaining Bay Are a rental markets, with average rents just over $2,000 per month. Due to increased demand for affordable housing in the Bay Area & the recent flight to suburban locales, renters have started relocating to the Hayward market for rent relief. With overall vacancy in the City of Hayward hovering around 4% & with few housing developments in the pipeline, Hayward is expected to see tremendous rent growth as demand for housing continues to outpace supply.
EMAIL: [email protected] FOR MORE INFORMATION
Property Details
- Class
- C
- Year Built/Renovated
- 1962/2020
- Stories
- 2
- Lot Size (sq. ft)
- 48,352 SF
- Units
- 30
Highlights
- Private Carport Parking Including Covered Carports, an On-Site Laundry Facility, and Solar Panels to Offset Electrical Consumption
- Several Capital Improvements Have Been Completed Including: New Exterior Paint, Upgraded Bathrooms and Kitchens with Contemporary Finishes, and New Fl
- Opportunity to Increase Revenue w/ Monetization of Parking and Rent Increases
- Hayward is The Center of The Bay Area with Strategic Access to All Major Bay Area Employment Centers Including Oakland/ Berkeley, San Jose, & SF
- Prime Harder- Tennyson Location, Close to Restaurants, Shopping, Commute Options & Downtown Hayward
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].