Mixed-Use Property with Four
For Sale
$1,399,000
Pending
1384 B Street, Hayward, CA 94541
Two buildings combine unfinished commercial space, residential apartments, and on-site laundry near downtown Hayward.
Property Size3,456 SF
Days on Market102
Property Features for 1384 B Street
General Information
Standard status
Pending
Size
3,456 SF
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
cosmetic fixer
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Amenities
on-site laundry
Open
BART Nearby
Carpet Flooring
City Lot
Composition Roof
Linoleum Flooring
Shingle Roof
Tar/Gravel Roof
Uncovered Parking
Unfinished Flooring
Wall Furnace Heating
Building Details
Year Built
1951
Buildings
2
Listing Agency:
CENTURY 21 BALDINI REALTY
(415) 587-4212
Listed By:
JAIME E PERAZA · License #01479258
Source:
Corcoran
Added: May 21
Changed: Aug 28
Last Checked: Aug 25 at 8:39AM
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 CENTURY 21 BALDINI REALTY
Investment Insights
Based on property information with market context.
Located at 1384 B Street in Hayward, this mixed-use property includes two buildings with a total reported size of 3,456 SF. The residential component contains four units: two one-bedroom apartments and two two-bedroom apartments. An on-site laundry area serves the residential portion, while the commercial frontage remains unfinished for completion by the next owner.
Built in 1951, the property also includes a small adjacent lot. Previously obtained city permits and plans for the commercial space have expired, allowing the future owner to revise or renew them as part of the completion process. The residential buildings may be delivered vacant by the current owner, providing flexibility for a new ownership plan. The property is positioned near downtown Hayward and combines residential occupancy with an unfinished commercial component.
Built in 1951, the property also includes a small adjacent lot. Previously obtained city permits and plans for the commercial space have expired, allowing the future owner to revise or renew them as part of the completion process. The residential buildings may be delivered vacant by the current owner, providing flexibility for a new ownership plan. The property is positioned near downtown Hayward and combines residential occupancy with an unfinished commercial component.
Key Highlights
- Four residential units: two one‑bedroom and two two‑bedroom apartments
- 3,456 SF reported property size across two buildings
- Unfinished commercial front space included
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
$67,033
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
4.79%
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%
$1,340,660
$1.3M
Cap Rate 7%
$957,614
$957.6K
Cap Rate 9%
$744,811
$744.8K
Market Conditions
NOI Build-Up for 3,456 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
$128.6K $37.20/SF
− Vacancy
−$6.7K −$1.93/SF
EGI
$121.9K $35.27/SF
− OpEx
−$54.8K −$15.87/SF
NOI
$67.0K $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%
$1,340,660
Cap Rate 7%
$957,614
Cap Rate 9%
$744,811
Alternative Uses
Best Use
Apartment 5plus
$957.6K
$837.9K – $1.12M
NOI $67,033 @ 7.0% cap · market cap 4.79%
Second Best
Mixed Use
$860.9K
$753.3K – $1.00M
NOI $60,264 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.07M
$934.8K – $1.25M
NOI $74,782 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,009
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?
Mixed-use property - Two buildings combine unfinished commercial space, residential apartments, and on-site laundry near downtown Hayward.
Where is this mixed-use property located?
The property is located at 1384 B Street Hayward, CA.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Four residential units: two one‑bedroom and two two‑bedroom apartments; 3,456 SF reported property size across two buildings; Unfinished commercial front space included
