550 Berry Ave - Apartments FOR SALE


Hayward, CA 94544- Jackson Triangle
$12,056,000 USD
650-380-5188
550 Berry Ave, Hayward, CA for Sale
$12,056,000 USD
Apartments - FOR SALE
1/80
null | 6% Cap Rate

550 Berry Ave
Hayward, CA 94544
Jackson Triangle


HIGHLIGHTS

  • One of the Most Desirable Locations / Neighborhoods in Hayward. Durable Rents w/ Excellent Upside.
  • Low Turnover. Easy to Rent and Manage.
  • CAP Rate: In-Place: 6.00% / Pro-Forma: 7.41% / GRM: In-Place: 10.6 / Pro-Forma: 9.2
  • Cost/Unit: $274,000/Door / Cost/SF: $389/SF
  • Excellent Curb Appeal. Secured Center Courtyard w/ Numerous Tenant Amenities
  • Reposition Ideas: Add Dishwashers, Recessed Lighting, Flooring Upgrades

OVERVIEW

ONE OF THE BEST LOCATIONS IN HAYWARD: Rarely Available 44-Unit Multifamily Asset in the Desirable Jackson Triangle Submarket/Neighborhood Property Commands Superior Rents and Higher Occupancy Due to its Desirable Location Peaceful, Quiet Setting in a Residential Neighborhood Amongst Single Family Homes and Multifamily Properties Excellent Location with Minimal Thoroughfare Traffic - Offering Desirable Rental With Upside in Pro-Forma Rents PRIDE-OF-OWNERSHIP PROPERTY: Well-Maintained, Pride-of-Ownership Property w/ Excellent Curb Appeal Fully Secured Building w/ Remote-Controlled Main Entry Gate Gated-Community Offers Park-Like Setting, and Secured Perimeter Appeal to Couples or Families With Children DESIRABLE PROPERTY FEATURES & NICE CURB APPEAL: Excellent Unit Mix: 26 Spacious 1 Bedroom/1 Bath (+/- 663 SF), and 18 Spacious 2 Bedroom/1 Bath (+/- 765 SF) Units Current Property Amenities Include: Onsite Laundry Center, Fenced Swimming Pool, Open, and Secured Court-Yard Excellent Curb-Appeal With Well-Manicured Landscaping and Tastefully-Designed Decorative Wood Paneling on Stucco CURRENT & FUTURE OPPORTUNITIES: Low Historic Vacancy and Low Tenant Turnover Building Offers Durable Rents and Stable Cashflow Potential to Add Dishwasher, Recessed Lighting, Flooring Upgrades to Achieve Higher Rents Capital Improvements Include: Dual-Pane Windows, Water Heaters, Landscape Lighting, Exterior Painting, and More EXCELLENT CONNECTIVITY & ACCESS TO MAJOR EMPLOYERS: Public Transit: Located 1.8 Miles From the Hayward BART Station (a 9-Minute Bike Ride or 12 Minutes by Bus). Commuting: Easy Access to Major Freeways (Highways 92, 880, and 84). Major Employers: Short Commute to Major Peninsula Employers, Including Visa (19 mins), Meta (20 mins), and Google (31 mins).

FOR SALE DETAILS

PRICE

$12,056,000 USD

PRICE/SF

$389 USD /SF

# OF UNITS

44

PRICE/UNIT

$274,000

CAP RATE

6%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Palms Apartments / 550 Berry Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

100

LAND DETAILS

LAND ACRES

1.4 AC

LAND SF

61,001 SF

ZONING

RH, Hayward

APN/PARCEL ID

444-0054-050-02

ASK ABOUT THIS PROPERTY

Don SungColliersMore Info
650-380-5188

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Don SungColliersMore Info
650-380-5188

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