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18 Unit in Hayward’s Foothill Neighborhood 944 Fletcher Ln 18 Unit Apartment Building $6,229,845 CAD ($346,103 CAD/Unit) 5.74% 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 - 5.74% (Current)
GRM – 9.82 (Current)
Cap Rate – 6.28% (Proforma)
GRM – 9.29 (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 – 9.82 (Current)
Cap Rate – 6.28% (Proforma)
GRM – 9.29 (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 |
$619,933
|
$43.65
|
| Other Income |
$14,536
|
$1.02
|
| Vacancy Loss |
$21,698
|
$1.53
|
| Effective Gross Income |
$612,772
|
$43.15
|
| Taxes |
$75,922
|
$5.35
|
| Operating Expenses |
$178,971
|
$12.60
|
| Total Expenses |
$254,893
|
$17.95
|
| Net Operating Income |
$357,878
|
$25.20
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $619,933 |
| Annual Per SF | $43.65 |
| Other Income (CAD) | |
|---|---|
| Annual | $14,536 |
| Annual Per SF | $1.02 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $21,698 |
| Annual Per SF | $1.53 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $612,772 |
| Annual Per SF | $43.15 |
| Taxes (CAD) | |
|---|---|
| Annual | $75,922 |
| Annual Per SF | $5.35 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $178,971 |
| Annual Per SF | $12.60 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $254,893 |
| Annual Per SF | $17.95 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $357,878 |
| Annual Per SF | $25.20 |
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 | $5,793,430 CAD |
| Land Assessment | $1,738,422 CAD | Annual Taxes | $75,922 CAD ($5.35 CAD/SF) |
| Improvements Assessment | $4,037,476 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
445-0001-009-00
Land Assessment
$1,738,422 CAD
Improvements Assessment
$4,037,476 CAD
Total Assessment
$5,793,430 CAD
Annual Taxes
$75,922 CAD ($5.35 CAD/SF)
Tax Year
2025
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18 Unit in Hayward’s Foothill Neighborhood | 944 Fletcher Ln
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