Hayward Multifamily Property for
For Sale
$4,008,800
257 Poplar Ave, Hayward, CA 94541
Well-maintained 12-unit apartment community in high-demand East Bay rental market.
Property Size13,397 SF
Lot Size0.56 Acres
Price / SF$299.23
Days on Market111
Property Features for 257 Poplar Ave
General Information
Standard status
Active
Size
13,397 SF
Lot size
0.56 Acres
Property subtype
Investment
Building Details
Year Built
1974
Units
12
Listing Agency:
United Apartment Group
(925) 322-1474
Listed By:
Theodore Booras · License #01147469
(925) 322-1474
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 8 at 7:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of United Apartment Group
Investment Insights
Based on property information with market context.
This is a well-maintained, SB 721 compliant 12-unit apartment community located in unincorporated Hayward within the high-demand East Bay rental market. Constructed in 1974, the property is situated on a 24,600 square foot lot (0.56 acres) and comprises 13,397 square feet of building area. The unit mix includes a balanced variety of one, two, and three-bedroom floor plans. The property features owned solar panels for the master electric system and shared laundry facilities. Recent updates totaling over $125,000 include fresh exterior paint and upgraded balconies and railings. The location has a bike score of 59, indicating it is bikeable, a walk score of 50, indicating car-dependent, and a transit score of 48, indicating some transit options are available.
Key Highlights
- Well‑maintained 12‑unit apartment community in high‑demand East Bay rental market.
- SB 721 compliant.
- Generous 24,600 SF lot (.56 acres).
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
$259,849
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
6.48%
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%
$5,196,980
$5.2M
Cap Rate 7%
$3,712,129
$3.7M
Cap Rate 9%
$2,887,211
$2.9M
Market Conditions
NOI Build-Up for 13,397 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
$498.4K $37.20/SF
− Vacancy
−$25.9K −$1.93/SF
EGI
$472.5K $35.27/SF
− OpEx
−$212.6K −$15.87/SF
NOI
$259.8K $19.40/SF
Area
Hayward, CA
Vacancy
5.20%
Lease Rate
$37.20 /SF/Yr
Expense Ratio
45.00%
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%
$5,196,980
Cap Rate 7%
$3,712,129
Cap Rate 9%
$2,887,211
Alternative Uses
Best Use
Apartment 5plus
$3.71M
$3.25M – $4.33M
NOI $259,849 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.14M
$3.62M – $4.83M
NOI $289,890 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
870
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?
Apartment building - Well-maintained 12-unit apartment community in high-demand East Bay rental market.
Where is this apartment building located?
The property is located at 257 Poplar Ave Hayward, CA.
What is the asking price?
The asking price for this property is $4,008,800.
What are key features of this property?
This property features: Well‑maintained 12‑unit apartment community in high‑demand East Bay rental market.; SB 721 compliant.; Generous 24,600 SF lot (.56 acres).
