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21462 Ocean View Dr 7 Unit Apartment Building $2,178,839 CAD ($311,263 CAD/Unit) 6.75% Cap Rate Hayward, CA 94541
INVESTMENT HIGHLIGHTS
- Cap Rate: 6.69% (10.03% Market),Gross Rent Multiplier: 9.86 (7.27 Market)
- Desirable unit mix with 5 two-bedroom units, 1 one-bedroom unit & 1 two-bedroom SFR, Low density with only 7 units on 0.34 acres (20 units per acre)
- Located in the Cherryland area of Hayward which is unincorporated,Convenient location offers immediate access to all East Bay Freeways
EXECUTIVE SUMMARY
21462 Ocean View Drive is a 7-unit property sitting on a single parcel and spanning just over a third of an acre (0.34 acres). The property consists of three single story attached units (all two bedrooms), a two-story building consisting of three units (1 one bedroom and 2 two bedroom) and a two-bedroom single family residence at the rear of the property. The property was constructed in 1953 with wood framing and stucco exteriors.
The property is located on Ocean View Drive in Hayward near the intersection with Grove Way. Ocean View Drive runs between two of Hayward's main thoroughfares, Foothill Boulevard and Mission Boulevard. Tenants benefit from a convenient location where they can easily access Downtown Hayward, Interstate 580 and two BART stations (Hayward & Castro Valley) within minutes.
The property is located on Ocean View Drive in Hayward near the intersection with Grove Way. Ocean View Drive runs between two of Hayward's main thoroughfares, Foothill Boulevard and Mission Boulevard. Tenants benefit from a convenient location where they can easily access Downtown Hayward, Interstate 580 and two BART stations (Hayward & Castro Valley) within minutes.
PROPERTY FACTS Under Contract
| Price | $2,178,839 CAD | Property Subtype | Apartment |
| Price Per Unit | $311,263 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.75% | Lot Size | 0.34 AC |
| Sale Condition | 1031 Exchange | Building Size | 4,803 SF |
| Gross Rent Multiplier | 9.86 | No. Stories | 2 |
| No. Units | 7 | Year Built | 1953 |
| Property Type | Multifamily | Parking Ratio | 1.46/1,000 SF |
| Price | $2,178,839 CAD |
| Price Per Unit | $311,263 CAD |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 9.86 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 4,803 SF |
| No. Stories | 2 |
| Year Built | 1953 |
| Parking Ratio | 1.46/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 7 | - | - |
1 1
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 414-0086-082-00 | Improvements Assessment | $150,783 CAD |
| Land Assessment | $417,911 CAD | Total Assessment | $568,694 CAD |
PROPERTY TAXES
Parcel Number
414-0086-082-00
Land Assessment
$417,911 CAD
Improvements Assessment
$150,783 CAD
Total Assessment
$568,694 CAD
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21462 Ocean View Dr
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