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Laurel Avenue Apartments 188 Laurel Ave 7 Unit Apartment Building $1,745,000 ($249,286/Unit) 5.10% Cap Rate Hayward, CA 94541
INVESTMENT HIGHLIGHTS
- Upside rental potential
- All 2 bedroom 1 bath townhouse style units
EXECUTIVE SUMMARY
7 unit townhouse style apartment complex. Good upside rental income. The property offers seven 2 bedroom and 1 bath units. Built circa 1963, property has 5,670 sq. ft. of rental space on a large 16,600 sq. ft. rectangular shaped site.
The most recent filled vacancy rented for $1,995 per month, there is presently one vacant unit which has been upgraded. The kitchens feature freestanding range/oven, fan/hood, some units have dishwashers and laundry hookups. The property has 15 open parking spaces at the rear of the site.
Located in Unincorporated Alameda County in an area of multi-family and single family homes. Convenient to Downtown Hayward, BART and Interstate 880.
Income and expenses shown are proforma rents. Insurance figure is actual with earthquake insurance included.
The most recent filled vacancy rented for $1,995 per month, there is presently one vacant unit which has been upgraded. The kitchens feature freestanding range/oven, fan/hood, some units have dishwashers and laundry hookups. The property has 15 open parking spaces at the rear of the site.
Located in Unincorporated Alameda County in an area of multi-family and single family homes. Convenient to Downtown Hayward, BART and Interstate 880.
Income and expenses shown are proforma rents. Insurance figure is actual with earthquake insurance included.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$142,284
|
$20.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$142,284
|
$20.99
|
| Taxes |
$22,437
|
$3.31
|
| Operating Expenses |
$60,122
|
$8.87
|
| Total Expenses |
$82,559
|
$12.18
|
| Net Operating Income |
$59,725
|
$8.81
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $142,284 |
| Annual Per SF | $20.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $142,284 |
| Annual Per SF | $20.99 |
| Taxes | |
|---|---|
| Annual | $22,437 |
| Annual Per SF | $3.31 |
| Operating Expenses | |
|---|---|
| Annual | $60,122 |
| Annual Per SF | $8.87 |
| Total Expenses | |
|---|---|
| Annual | $82,559 |
| Annual Per SF | $12.18 |
| Net Operating Income | |
|---|---|
| Annual | $59,725 |
| Annual Per SF | $8.81 |
PROPERTY FACTS
| Price | $1,745,000 | Apartment Style | Townhome |
| Price Per Unit | $249,286 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.38 AC |
| Cap Rate | 5.10% | Building Size | 5,670 SF |
| Gross Rent Multiplier | 14.75 | Average Occupancy | 98% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 2.65/1,000 SF |
| Price | $1,745,000 |
| Price Per Unit | $249,286 |
| Sale Type | Investment |
| Cap Rate | 5.10% |
| Gross Rent Multiplier | 14.75 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 5,670 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 2.65/1,000 SF |
AMENITIES
UNIT AMENITIES
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 7 | - | 810 |
1 1
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 429-0091-063-00 | Total Assessment | $813,865 |
| Land Assessment | $220,790 | Annual Taxes | $22,437 ($3.96/SF) |
| Improvements Assessment | $593,075 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
429-0091-063-00
Land Assessment
$220,790
Improvements Assessment
$593,075
Total Assessment
$813,865
Annual Taxes
$22,437 ($3.96/SF)
Tax Year
2025
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Laurel Avenue Apartments | 188 Laurel Ave
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