204 Sunset Blvd 5 Unit Apartment Building $2,451,070 CAD ($490,214 CAD/Unit) 7.07% Cap Rate Hayward, CA 94541

204 Sunset Boulevard presents a rare opportunity to acquire a true pride-of-ownership, two-story, 5-unit multifamily asset in unincorporated Hayward—one of the East Bay’s most resilient, supply-constrained rental submarkets. Exceptionally well-kept, the property features inviting landscaping that significantly enhances its curb appeal. Situated on a generous 0.41-acre lot, the single-parcel configuration creates a spacious, low-density residential living environment with the privacy and dedicated outdoor spaces that consistently attract premium, long-term tenants. The building features an exceptionally diverse, high-demand unit mix with an expansive average unit size of 957 square feet, consisting of one 4-bedroom, 2.5-bathroom single-family home, one 3-bedroom, 2-bathroom unit, one 3-bedroom, 1-bathroom unit, and two 2-bedroom, 1-bathroom units.
Select units have been upgraded to include updated bathrooms, new countertops, modern faucets, fresh flooring, new ceiling fans, and upgraded light fixtures. This provides immediate, rent-ready appeal while leaving substantial, proven upside available through continued unit-by-unit modernization. Livability is further enhanced by functional kitchens with stovetops and ovens, abundant cabinet space, a shared laundry facility, and a total of six parking spaces, including attached garages, fireplaces, private yards and patios for select layouts. Operational efficiency is a core strength of this offering, as all five units are separately metered for both gas and electricity, and each is equipped with its own dedicated water heater. Additionally, a utility bill-back program is currently implemented, controlling ownership expenses, mitigating utility risk, and protecting long-term operating margins.
The property is located near Cherryland, an unincorporated community known for its quiet residential streets, lush parks, and rich agricultural heritage. Positioned in a high-demand, low-vacancy corridor south of Oakland, the asset enjoys outstanding proximity to major employment and transit nodes. It sits less than three miles from Southland Mall and just minutes away from the Hayward BART and Amtrak Stations, providing effortless transit access throughout the wider Bay Area. Supported by a deeply resilient local workforce, the property benefits from a dense concentration of major institutional and corporate employers, including nearby advanced tech manufacturing, California State University, East Bay, and St. Rose Hospital, along with the massive Tesla manufacturing hub just down the corridor. With strong underlying fundamentals, 204 Sunset Boulevard presents an immediate opportunity to strategically reposition the asset and capture substantial rental upside in one of Alameda County’s most desirable, low-vacancy multifamily corridors.