22774 4th St 5 Unit Apartment Building $1,650,000 ($330,000/Unit) 5.96% Cap Rate Hayward, CA 94541

• 22774 4th Street presents investors an opportunity to acquire a five-unit multifamily property in the heart of the Hayward. Built with classic 1954 architectural design, the building is comprised of five spacious 2-bed/1-bath units, each offering efficient layouts, natural light, and strong rental appeal.
• Functioning more like attached cottages, tenants benefit from individual garages with additional storage with each unit having separate washer/dryer hookups and water heaters on the first level, while the living spaces are on the second level above the garage.
• Operating costs are minimized because tenants are responsible for separate utilities including PG&E and garbage; in addition, most units are integrated into a RUBS payment reimbursement for water further reducing owner expenses.
• A great opportunity lies in the untapped garden level floor space potential to be converted into Accessory Dwelling Units (ADU) and/or additional square footage; especially as the State of California eases restrictions to allow for more needed housing.
• Buyers are encouraged to check with the City of Hayward regarding the potential to convert one of the units into a 3 bed/2 bath and add value by legally incorporating the additional square footage that's already there. Plus there is empty space below another unit that could allow for an additional 2 bed/1 bath ADU.
• With consistent tenant demand, this asset is well-suited for both long-term investors seeking steady cash flow and value-add buyers looking to reposition and maximize rental income through upgrades.