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Listed by KELLER WILLIAMS TRI VALLEY REALTY
$ 1,525,000
Est. payment | /mo
5,760 SqFt
$ 1,525,000
Est. payment | /mo
5,760 SqFt
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,760 sqft
Price per Sqft $264
Subdivision Cherryland
MLS Listing ID 41146412
HOA Y/N No
Year Built 1978
Lot Size 0.282 Acres
Property Sub-Type 5 or More Units
Source Bridge AOR
Property Description
203 Sunset Boulevard presents a compelling opportunity to acquire a well-maintained six-unit townhome community in Hayward's unincorporated Cherryland neighborhood, near A Street and minutes from Downtown Hayward. Each of the six units features two bedrooms, 1.5 bathrooms, and approximately 960 square feet of living space — offering tenants spacious, house-like accommodations uncommon in the broader multifamily market. Built in 1978 and situated on a 12,300 square foot lot, the property benefits from a rare townhome floorplan with individual unit entrances, private outdoor space, and separate metering of gas and electric utilities. The property is 100% occupied with a stable, long-term tenant base, generating gross monthly income of $12,146. With current rents averaging $2,024 per unit — meaningfully below the market rate of $2,500 per unit — the property offers significant upside through natural turnover. Pro forma rents of $2,500 per month translate to a projected gross annual income of $180,000, representing a 23.4% increase over in-place rents; supporting a pro forma cap rate of 6.82%. Located in unincorporated Alameda County, the property is governed by California's Tenant Protection Act (AB 1482) rather than Hayward's local rent control ordinance — allowing rent increases of 5% + CPI. This investor-friendly structure, combined with proximity to Hayward BART and major East Bay employers, underpins consistent demand and long-term rent growth.
Location
State CA
County Alameda
Interior
Heating Wall Furnace
Cooling None
Flooring Other
Fireplace No
Laundry Coin Operated
Building
Lot Description Rectangular Lot
Water Public, Water District
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