19477 Meekland Ave - Multi-Family FOR SALE


Cherryland, CA 94541
$3,595,000 USD
626-483-5136
19477 Meekland Ave, Cherryland, CA for Sale
$3,595,000 USD
Multi-Family - FOR SALE
1/25
null | 7% Cap Rate

19477 Meekland Ave
Cherryland, CA 94541


HIGHLIGHTS

  • True pride-of-ownership 12-unit asset in unincorporated Hayward — meticulously self-managed and owned by the same family for over 30 years.
  • Low-density configuration on two parcels — (1) 3 Bed/2 Bath SFH (3) 3 bed/2 bath, (2) 3 bed/1 bath, (4) 2 bed/1 bath, and (2) 1 bed 1 bath
  • Major capital improvements — new roofs within the last 2 years, new sewer main, newer asphalt, and double-pane windows in every unit.
  • Highly efficient operating profile — separately metered for gas & electric, individual water heaters, and utility bill-back program through Livable.
  • ADU Potential - Ability to build an additional dwelling unit in back parking lot of 19477 Meekland Ave.
  • Additional Ammenities - In-unit washer/dryer hookups, and spacious patios.

OVERVIEW

19465–19477 Meekland Avenue presents a rare opportunity to acquire a true pride-of-ownership 12-unit multifamily asset in unincorporated Hayward, one of the East Bay’s most resilient and consistently performing rental submarkets. Meticulously self-managed and owned for over 30 years. The offering consists of two parcels consisting of eight single-story buildings. This configuration creates a residential, low-density living environment with the privacy and outdoor space that continues to attract long-term tenants. The unit mix is exceptionally diverse and well-balanced, with (1) 3 Bed/2 Bath Single-Family Home (3) 3 bed/2 bath, (2) 3 bed/1 bath, (4) 2 bed/1 bath, and (2) 1 bed/1 bath units, allowing the property to capture a wide range of tenant demand from families and roommates to professionals and individuals. The current ownership has invested significantly in the long-term performance and physical condition of the asset. All roofs have been replaced within the last two years and consist of pitched composition roofs paired with wood frame stucco construction. The property also benefits from newer asphalt throughout, a new sewer main, recently updated subpanels in select units, and double-pane windows across every unit. Select units have been thoughtfully renovated and feature updated bathrooms, new countertops, new faucets, and marble flooring, providing immediate rent-ready appeal while leaving additional upside available through continued unit-by-unit modernization. The remaining electrical subpanels consist of a mixture of Blakeman Brothers, Square D, and Murray panels. Operational efficiency is a defining strength of this offering. All units are separately metered for both gas and electricity, each unit is equipped with its own water heater, and every unit features in-unit washer/dryer hookups. A utility bill-back program is currently in place through Livability, helping to control ownership expenses and protect long-term margins. The offering also includes a total of 37 parking spaces consisting of 14 tandem stalls and 9 single stalls. All units also enjoy private patios, further enhancing livability and supporting premium rental positioning. Additionally, 10 of the 12 units are eligible for rent increases, providing a clear and immediate path to enhanced cash flow for an incoming owner. Beyond the in-place income and rental upside, the property also offers significant long-term development potential through the addition of Accessory Dwelling Units (ADUs) at the rear of the site. Under current California ADU legislation, multifamily properties of this size and configuration are well positioned to accommodate additional detached units, allowing a new owner to meaningfully expand the income base, increase overall property value, and capitalize on Hayward’s continued housing demand.

FOR SALE DETAILS

PRICE

$3,595,000 USD

PRICE/SF

$364 USD /SF

# OF UNITS

12

PRICE/UNIT

$299,583

CAP RATE

7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

19465-19477 Meekland Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.79 AC

LAND SF

34,412 SF

ZONING

-

APN/PARCEL ID

429-0005-015-02,429-0005-016-02

ASK ABOUT THIS PROPERTY

Ray RodriguezCompass CommercialMore Info
626-483-5136

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Ray RodriguezCompass CommercialMore Info
626-483-5136

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.