Triplex with Assigned
For Sale
$1,349,888
21585 Montgomery St, Hayward, CA 94541
Residential Income, Hayward, CA
Property Size2,483 SF
Lot Size0.14 Acres
Price / SF$543.65
Days on Market69
Property Features for 21585 Montgomery St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 2, Bathroom 3, Bathroom 6, Bathroom 5, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 7, Bathroom 4, Bedroom 5, Bedroom 2, Bedroom 3
Parking features
Carport, Off Street
Window features
Window Coverings
Interior features
Storage Area(s)
Exterior features
Storage
Fencing
Fenced
Fireplace
1
Appliances
Dryer, Washer, Gas Water Heater
Subdivision
Cherryland
Lot features
Level, Rectangular Lot
Elementary school district
Hayward (510) 784-2600
High school district
Hayward (510) 784-2600
Directions
Mission Blvd/Grove Way/Montgomery St
Standard status
Active
APN
42869
Size
2,483 SF
Lot size
0.14 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Wall Furnace
Water source
Public
Amenities
newer furnace
windows
flooring
interior paint
gas stove
refrigerator
washer
dryer
detached storage closets
assigned parking
Building Details
Year built
1930
Number of units
3
Flooring type
Linoleum, Tile, Laminate
Building materials
Stucco
Roof type
Composition
Additional Structures
Storage
Listing Agency:
KW Advisors · Keller Williams Realty
(510) 796-7900
Listed By:
Steve Pierce
(510) 409-2727
Added: Jun 21
Changed: Aug 24
Last Checked: Aug 28 at 2:06AM
MLS# 41139129
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex contains three residential units totaling 2,483 square feet on a 0.1414-acre lot. The units have been maintained with newer furnaces, windows, flooring, interior paint, gas stoves, refrigerators, washers, and dryers. Detached storage closets and assigned parking provide additional functional features. The property also includes stucco construction, composition roofing, public water and sewer service, fencing, and a mix of forced-air and wall-furnace heating.
Located at 21585 Montgomery St in Hayward, the property is less than 1 mile from the Hayward BART Station and near downtown shopping, restaurants, coffee shops, and a movie theater. The property is in unincorporated Alameda County and is subject to the county’s Rent Stabilization Ordinance and Just Cause Eviction Ordinance.
Located at 21585 Montgomery St in Hayward, the property is less than 1 mile from the Hayward BART Station and near downtown shopping, restaurants, coffee shops, and a movie theater. The property is in unincorporated Alameda County and is subject to the county’s Rent Stabilization Ordinance and Just Cause Eviction Ordinance.
Key Highlights
- Three‑unit triplex with 2,483 square feet of total property size
- 0.1414‑acre lot in unincorporated Alameda County
- Less than 1 mile to the Hayward BART Station
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,533
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,070,660
$1.1M
Cap Rate 7%
$764,757
$764.8K
Cap Rate 9%
$594,811
$594.8K
Market Conditions
NOI Build-Up for 2,483 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$80.4K $32.40/SF
− Vacancy
−$4.0K −$1.60/SF
EGI
$76.5K $30.80/SF
− OpEx
−$22.9K −$9.24/SF
NOI
$53.5K $21.56/SF
Area
Hayward, CA
Vacancy
4.94%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,070,660
Cap Rate 7%
$764,757
Cap Rate 9%
$594,811
Alternative Uses
Best Use
Multifamily LT 5
$764.8K
$669.2K – $892.2K
NOI $53,533 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$688.0K
$602.0K – $802.7K
NOI $48,160 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$767.5K
$671.6K – $895.5K
NOI $53,728 @ 7.0% cap · market cap 3.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,290
Businesses Nearby
Explore this area
Business Placement
Demographics for 94541, CA
69,736
Population
23,217
Households
3
Avg Household Size
36
Median Age
30%
College-Educated
82%
High-School Grad
7.5 sq mi
ZIP Area
9,298
Density / Sq Mi
$106,556
Median Household Income
$52,023
Median Earnings
$2,229
Median Rent
$781,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Each residence includes appliances, storage, and off-street parking.
Where is this triplex located?
The property is located at 21585 Montgomery St Hayward, CA.
What is the asking price?
The asking price for this property is $1,349,888.
What are key features of this property?
This property features: Three‑unit triplex with 2,483 square feet of total property size; 0.1414‑acre lot in unincorporated Alameda County; Less than 1 mile to the Hayward BART Station
