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24656 ONeil Ave

9 Unit Apartment Building $3,400,000 ($377,778/Unit) 5.43% Cap Rate Hayward, CA 94544

Investment Highlights

  • Quaint Freestanding Cottage-Style Investment - Investors have the opportunity to acquire a freestanding 9-unit cottage-style apartment community.
  • Tenants are responsible for all utility expenses allowing investors to streamline their financial management.
  • The subject property is also located within walking distance to CSU East Bay (0.9 mi), making it highly attractive for student housing demand.
  • The subject property is comprised of a duplex and seven individual cottage-style units, each with a private garage.
  • The subject properties offer prospective investors flexibility in their exit strategy, enabling them to sell the parcels individually or together.

Executive Summary

24656, 24658, 24680 & 24682 Oneil Ave is a stunning 9-unit cottage-style apartment community located in the thriving city of Hayward, California.
Situated on four contiguous parcels of land totaling 37,850 square feet, the subject property was originally constructed in 1944, 1956 & 1957 and has a gross building area of approximately 7,396 square feet, offering tenants beautifully designed three-bedroom and two-bedroom floor plans with in-unit washers & dryers.
The subject property consists of a duplex and seven cottage-style units all with private garages. 24656, 24658, 24680 & 24682 Oneil Ave is a well-positioned asset with close proximity to some of the most prominent employment centers in the Bay Area: Oakland (7.5 miles), The Peninsula (14 miles), The Tri-Valley (11 miles), and San Francisco (28 miles). The major transportation corridors of Interstate 880, Interstate 580, the San Mateo-Hayward Bridge, and several BART stations make commuting to these major transpiration centers convenient for tenants.
In addition, the subject property offers close proximity to many of the nation's top employers including Tesla, PG&E, Chevron, Kaiser, Sutter Health, John Muir Health, as well as many others. The subject property is also located within close proximity to California State University East Bay (0.9 mi). The strong positioning of 24656, 24658, 24680 & 24682 Oneil Ave presents investors the option to pivot and attract a diverse range of residents driven towards the overall value that Hayward provides.
The investment appeal of this asset is driven by Hayward’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of the East Bay, 24656, 24658, 24680 & 24682 Oneil Ave presents an attractive choice for investors due to its close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price $3,400,000
Price Per Unit $377,778
Sale Type Investment
Cap Rate 5.43%
Gross Rent Multiplier 13.68
No. Units 9
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 0.87 AC
Building Size 9,006 SF
Average Occupancy 100%
No. Stories 1
Year Built 1956

Unit Amenities

  • Washer/Dryer
  • Kitchen
  • Oven
  • Tub/Shower

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 8 - -
3+1 1 - -
Walk Score ®
Very Walkable (79)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

zoning

Zoning Code MB-CN
MB-CN
  • Listing ID: 32322421

  • Date on Market: 7/2/2024

  • Last Updated:

  • Address: 24656 ONeil Ave, Hayward, CA 94544

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