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18 Unit in Hayward’s Foothill Neighborhood 944 Fletcher Ln 18 Unit Apartment Building $5,917,348 CAD ($328,742 CAD/Unit) 5.98% Cap Rate Hayward, CA 94541
Investment Highlights
- Capital Improvements - New roof (2025), new electric panels throughout (2025), and most units have been highly updated to modern interiors.
- Proximity to Play + Transit - Within 1.5 miles is bustling downtown Hayward, CSU East Bay, Hayward Bart, and freeway access to major thoroughfares.
- Excellent Core Suburban Bay Area Location - 21.23% cumulative rent growth over the last 10 years, with another 4.66% projected in the next 3 years*.
Executive Summary
Cap Rate - 5.73% (Current)
GRM – 9.77 (Current)
Cap Rate – 6.68% (Proforma)
GRM – 8.98 (Proforma)
Davide F. Pio proudly presents 944 Fletcher Ln, in the Hayward foothills [alt addrs: 944 Walpert St]. The multifamily asset features eighteen (18), of which nine are 1 bed / 1 bath units, and the remaining nine are 2 beds / 1 bath. The property has been well-maintained and upgraded over the years. Improvements include a new roof and electric panels (2025), and most units have been updated to modern open kitchens with stone countertops.
Additionally, some 1st floor units have backyards, while others on floors 2 and 3 have balconies. Those units with a west-facing view enjoy beautiful views stretching all the way to the bay. A total of 18 covered parking spaces and 8 additional uncovered spaces are rented for a fee. The elevator serves all 3 floors and a laundry room on two floors. The property allows for a turn-key investment with upside in one of Hayward foothills.
Located in the Mission / Foothills neighborhood, the property is under one (1) mile from vibrant downtown Hayward + Hayward Bart station, and 1.5 miles from CSU East Bay. A short drive provides quick access to Highway 580 / 238 interchange or the 880 / 92 freeway, allowing easy connections to San Francisco, Silicon Valley, and the peninsula.
GRM – 9.77 (Current)
Cap Rate – 6.68% (Proforma)
GRM – 8.98 (Proforma)
Davide F. Pio proudly presents 944 Fletcher Ln, in the Hayward foothills [alt addrs: 944 Walpert St]. The multifamily asset features eighteen (18), of which nine are 1 bed / 1 bath units, and the remaining nine are 2 beds / 1 bath. The property has been well-maintained and upgraded over the years. Improvements include a new roof and electric panels (2025), and most units have been updated to modern open kitchens with stone countertops.
Additionally, some 1st floor units have backyards, while others on floors 2 and 3 have balconies. Those units with a west-facing view enjoy beautiful views stretching all the way to the bay. A total of 18 covered parking spaces and 8 additional uncovered spaces are rented for a fee. The elevator serves all 3 floors and a laundry room on two floors. The property allows for a turn-key investment with upside in one of Hayward foothills.
Located in the Mission / Foothills neighborhood, the property is under one (1) mile from vibrant downtown Hayward + Hayward Bart station, and 1.5 miles from CSU East Bay. A short drive provides quick access to Highway 580 / 238 interchange or the 880 / 92 freeway, allowing easy connections to San Francisco, Silicon Valley, and the peninsula.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$593,039
|
$41.76
|
| Other Income |
$12,549
|
$0.88
|
| Vacancy Loss |
$20,757
|
$1.46
|
| Effective Gross Income |
$584,831
|
$41.18
|
| Taxes |
$72,208
|
$5.08
|
| Operating Expenses |
$173,845
|
$12.24
|
| Total Expenses |
$246,053
|
$17.33
|
| Net Operating Income |
$338,778
|
$23.85
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $593,039 |
| Annual Per SF | $41.76 |
| Other Income (CAD) | |
|---|---|
| Annual | $12,549 |
| Annual Per SF | $0.88 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $20,757 |
| Annual Per SF | $1.46 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $584,831 |
| Annual Per SF | $41.18 |
| Taxes (CAD) | |
|---|---|
| Annual | $72,208 |
| Annual Per SF | $5.08 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $173,845 |
| Annual Per SF | $12.24 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $246,053 |
| Annual Per SF | $17.33 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $338,778 |
| Annual Per SF | $23.85 |
Property Facts
Amenities
Unit Amenities
- Balcony
- Heating
- Kitchen
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | - |
| 2+1 | 9 | - | - |
1 1
Walk Score®
Very Walkable (70)
Property Taxes
| Parcel Number | 445-0001-009-00 | Total Assessment | $5,737,867 CAD |
| Land Assessment | $1,721,750 CAD | Annual Taxes | $72,208 CAD ($5.08 CAD/SF) |
| Improvements Assessment | $3,998,754 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
445-0001-009-00
Land Assessment
$1,721,750 CAD
Improvements Assessment
$3,998,754 CAD
Total Assessment
$5,737,867 CAD
Annual Taxes
$72,208 CAD ($5.08 CAD/SF)
Tax Year
2025
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18 Unit in Hayward’s Foothill Neighborhood | 944 Fletcher Ln
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