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Crest Manor 24586-24598 Sybil Ave 14 Unit Apartment Building $4,400,000 ($314,286/Unit) 3.51% Cap Rate Hayward, CA 94542
INVESTMENT HIGHLIGHTS
- Close Proximity to CSUEB
- Two Buildings with plentiful parking, laundry facilities, back patio
- Close Proximity to Downtown Hayward
- Upside potential in rental income
EXECUTIVE SUMMARY
Prime Investment Opportunity, 14-Unit Apartment Complex Near Cal State East Bay, in the heart of downtown Hayward. The property highlights include, 14 Total Units, all 2 Bed / 1 Bath, ideal for long-term tenants and student housing, all Separately Metered for Electric & Gas. On site two coin-operated laundry facilities, plentiful on-site parking, shared backyard amenities with a courtyard & BBQ area. The buildings' exteriors were recently painted. Convenient location, just 1 mile from Cal State University East Bay, 1 mile to Downtown Hayward, easy access to shopping, dining, parks, BART Station, and public transit. Close to Hwy 92, I-880, I-580, San Mateo Bridge, and Dumbarton Bridge. Employment and economic drivers nearby include Cal State University East Bay, Hayward Unified School District, Chabot College, St. Rose Hospital, Alameda County, Illumina, Impax Laboratories, Pentagon Technologies, Plastikon Industries, Ultra Clean Technology, Kaiser Permanente. Redevelopment Potential with it being located within the Mission Blvd Corridor Neighborhood (MBCN) Specific Plan Area, this property offers mixed-use possibilities and potential to double the number of units under current zoning. Investors and developers will appreciate the upside potential in a rapidly growing corridor.
PROPERTY FACTS
| Price | $4,400,000 | Building Class | C |
| Price Per Unit | $314,286 | Lot Size | 0.76 AC |
| Sale Type | Investment | Building Size | 9,800 SF |
| Cap Rate | 3.51% | Average Occupancy | 85% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 2.86/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MBCN - MBCN- Mission Blvd Corridor Neighborhood | ||
| Price | $4,400,000 |
| Price Per Unit | $314,286 |
| Sale Type | Investment |
| Cap Rate | 3.51% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 9,800 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 2.86/1,000 SF |
| Zoning | MBCN - MBCN- Mission Blvd Corridor Neighborhood |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 14 | - | 700 |
1 1
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,984,092 | |
| Land Assessment | $850,325 | Total Assessment | $2,834,417 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$850,325
Improvements Assessment
$1,984,092
Total Assessment
$2,834,417
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Crest Manor | 24586-24598 Sybil Ave
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