21501-21599 Westpark St 24 Unit Apartment Building $9,098,600 CAD ($379,108 CAD/Unit) 6.05% Cap Rate Hayward, CA 94541

Value-Add 24-Unit Townhome Community | Re-Parcelling Upside | Strong Rent Growth Built-In
Rare opportunity to acquire a 24-unit multifamily asset in the heart of Hayward, uniquely configured as eight triplex buildings on a single parcel. This distinctive layout presents a compelling value-add and exit strategy, including the potential to re-parcel and resell individual triplexes, creating multiple profit centers for an investor or developer (Buyer to Verify).
The property features a highly desirable, family-oriented unit mix of six (6) 1BD/1BA units, thirteen (13) 2BD/1.5BA townhouse-style units, and five (5) 3BD/1.5BA townhouse-style units. The larger units are especially attractive to long-term tenants and include in-unit washer and dryers in all 2- and 3-bedroom residences, enhancing tenant retention and rental premiums.
From an income perspective, the asset offers immediate and sustained upside with four (4) banked rent increases, allowing a new owner to implement 10% annual rent growth over the next four years (subject to local regulations), providing a clear path to revenue expansion and NOI growth.
This is a rare chance to acquire a scalable investment with both operational upside and a strategic resale angle—ideal for investors seeking yield today and optionality tomorrow.