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25039 Cypress Ave 9 Unit Apartment Building $2,250,000 ($250,000/Unit) 5.52% Cap Rate Hayward, CA 94544
Investment Highlights
- (1) 2BR/1.5BA owner’s townhouse with private outdoor space and (8) 1BR/1BA units, many with balconies or private yards.
- Prime East Bay location near CSU East Bay with strong rental demand and potential upside via SB 1211 parking conversion (buyer to verify.)
- Recent capital improvements including a new vinyl roof (2021), new fascia, and double-pane windows.
Executive Summary
25039 Cypress Ave is a well-maintained, recently renovated 9-unit multifamily asset located in one of the East Bay’s most dynamic rental submarkets. This offering provides investors with stable in-place cash flow and a clear value-add path through interior renovations and rent growth.
The property consists of (1) owner’s unit 2BR/1.5BA townhouse with two dedicated parking spaces, a private backyard, and a balcony, in addition to (8) 1BR/1BA apartment units. Select units feature outdoor amenities, including (2) first-floor units with private backyards and (6) second-floor units with balconies and extra storage conveniently located in the tuck-under carports.
The asset has seen meaningful capital improvements, including a new vinyl roof (2021), new fascia, and double-pane windows, along with 9 covered parking spaces — features that support long-term durability and tenant demand. With original kitchens and varying interior finishes, investors are presented with an immediate opportunity to renovate units and capture rental upside.
Strategically positioned near CSU East Bay and a strong regional employment base, the property benefits from consistent rental demand and long-term market fundamentals. Additionally, the building may offer potential to convert tuck-under parking into additional units without replacement parking requirements under SB 1211 (buyer to verify), providing an additional upside component beyond standard unit upgrades.
The property includes an on-site laundry room and encompasses approximately 5,904 rentable square feet, making this a compelling acquisition for investors seeking a durable East Bay multifamily investment with both cash flow stability and future appreciation potential.
The property consists of (1) owner’s unit 2BR/1.5BA townhouse with two dedicated parking spaces, a private backyard, and a balcony, in addition to (8) 1BR/1BA apartment units. Select units feature outdoor amenities, including (2) first-floor units with private backyards and (6) second-floor units with balconies and extra storage conveniently located in the tuck-under carports.
The asset has seen meaningful capital improvements, including a new vinyl roof (2021), new fascia, and double-pane windows, along with 9 covered parking spaces — features that support long-term durability and tenant demand. With original kitchens and varying interior finishes, investors are presented with an immediate opportunity to renovate units and capture rental upside.
Strategically positioned near CSU East Bay and a strong regional employment base, the property benefits from consistent rental demand and long-term market fundamentals. Additionally, the building may offer potential to convert tuck-under parking into additional units without replacement parking requirements under SB 1211 (buyer to verify), providing an additional upside component beyond standard unit upgrades.
The property includes an on-site laundry room and encompasses approximately 5,904 rentable square feet, making this a compelling acquisition for investors seeking a durable East Bay multifamily investment with both cash flow stability and future appreciation potential.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$198,264
|
$33.58
|
| Other Income |
$1,901
|
$0.32
|
| Vacancy Loss |
$5,948
|
$1.01
|
| Effective Gross Income |
$194,217
|
$32.90
|
| Taxes |
$26,379
|
$4.47
|
| Operating Expenses |
$43,672
|
$7.40
|
| Total Expenses |
$70,051
|
$11.87
|
| Net Operating Income |
$124,166
|
$21.03
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $198,264 |
| Annual Per SF | $33.58 |
| Other Income | |
|---|---|
| Annual | $1,901 |
| Annual Per SF | $0.32 |
| Vacancy Loss | |
|---|---|
| Annual | $5,948 |
| Annual Per SF | $1.01 |
| Effective Gross Income | |
|---|---|
| Annual | $194,217 |
| Annual Per SF | $32.90 |
| Taxes | |
|---|---|
| Annual | $26,379 |
| Annual Per SF | $4.47 |
| Operating Expenses | |
|---|---|
| Annual | $43,672 |
| Annual Per SF | $7.40 |
| Total Expenses | |
|---|---|
| Annual | $70,051 |
| Annual Per SF | $11.87 |
| Net Operating Income | |
|---|---|
| Annual | $124,166 |
| Annual Per SF | $21.03 |
Property Facts
| Price | $2,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $250,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 5.52% | Building Size | 5,904 SF |
| Gross Rent Multiplier | 11.35 | Average Occupancy | 88% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.86/1,000 SF |
| Zoning | RH, Hayward | ||
| Price | $2,250,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 5.52% |
| Gross Rent Multiplier | 11.35 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 5,904 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.86/1,000 SF |
| Zoning | RH, Hayward |
Amenities
Unit Amenities
- Balcony
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 1 | $1,822 | 865 |
| 1+1 | 8 | $1,900 | 630 |
1 1
Walk Score®
Very Walkable (74)
Property Taxes
| Parcel Number | 443-0070-046-00 | Total Assessment | $654,634 |
| Land Assessment | $196,390 | Annual Taxes | $26,379 ($4.47/SF) |
| Improvements Assessment | $458,244 | Tax Year | 2025 |
Property Taxes
Parcel Number
443-0070-046-00
Land Assessment
$196,390
Improvements Assessment
$458,244
Total Assessment
$654,634
Annual Taxes
$26,379 ($4.47/SF)
Tax Year
2025
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25039 Cypress Ave
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