688 Grove Way - Apartments FOR SALE


Hayward, CA 94541- North Hayward
$1,750,000 USD
415-532-3161
688 Grove Way, Hayward, CA for Sale
$1,750,000 USD
Apartments - FOR SALE
1/14
null | 6.02% Cap Rate

688 Grove Way
Hayward, CA 94541
North Hayward


HIGHLIGHTS

  • Diverse Unit Mix: Five (5) total units across three (3) structures, including two (2) duplexes and one (1) single-family home.
  • Extensive Renovations: Major interior and exterior upgrades across all units, including new roofs (2018 & 2025), modern kitchens, updated bathrooms.
  • Private Outdoor Space: All units feature separately fenced yards, enhancing privacy and tenant satisfaction—especially attractive to families.
  • Washer/Dryer Hookups: In-unit laundry hookups provide added convenience and improve tenant retention.
  • Utility Separation: Each unit is equipped with its own water heater, reducing operating costs and simplifying utility management.
  • Detached Storage Garage: Large, separately metered garage structure with water and sewer connections and a new Siemens subpanel—offering flexible use

OVERVIEW

684–692 Grove Way is an exceptionally maintained five-unit multifamily property located in the city of Hayward, CA. The asset consists of one detached single-family home and two duplex buildings, offering a highly desirable and flexible unit mix across three separate structures. Ownership has completed extensive renovations and capital improvements, significantly enhancing the long-term durability and rental appeal of the property. The separate property at 690 and 692 Grove Way containing 2-bedroom, 1.5-bathroom townhomes just received a new roof in 2018, along with new water heaters. The property containing 3-bedroom, 2-bathroom units at 684 and 686 Grove Way received a new roof in 2025, and the units new furnaces in 2019 and 2024, respectively. These units have also been extensively renovated with modern finishes. The detached single-family home at 688 Grove Way, a 2-bedroom, 1-bathroom unit, received a new roof in 2025, a new oven/range in 2024, a new refrigerator in 2024, a new water heater in 2024, and a furnace replacement in 2018. This unit underwent a comprehensive renovation in 2024, providing turnkey living for tenants. All units feature private fenced yards, individual water heaters, and washer/dryer hookups, enhancing tenant convenience and reducing shared utility costs. Additionally, the property includes a large detached storage garage equipped with water and sewer connections, separately metered electricity, and a newly installed Siemens sub-panel—offering excellent potential for additional income or flexible use.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$337 USD /SF

# OF UNITS

5

PRICE/UNIT

$350,000

CAP RATE

6.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,547 SF

ZONING

RSD3

APN/PARCEL ID

414-0076-097-00

ASK ABOUT THIS PROPERTY

Marshall WardEngel & VolkersMore Info
415-532-3161

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Marshall WardEngel & VolkersMore Info
415-532-3161

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