12-Unit Single-Story
For Sale
Contact for pricing
Pending
19465-19477 Meekland Ave, Hayward, CA 94541
Twelve separately metered units across eight single-story buildings with private patios and 37 parking spaces.
Property Size9,877 SF
Days on Market118
Property Features for 19465-19477 Meekland Ave
General Information
Standard status
Pending
Size
9,877 SF
Class
C
Total Parking Spaces
37
Property subtype
Multifamily
Zoning
Unincorporated
Occupancy
100%
Investment Type
Core
Net Operating Income
$251,625
Additional Details
Multifamily Units
12
Building Details
Year Built
1957
Buildings
9
Stories
1
Units
12
Tenancy
Multi
Listing Agency:
Compass Commercial Real Estate
Listed By:
Tony Zizzo · License #CA#01962093
(415) 345-3000
Source:
Crexi
Added: May 29
Changed: Sep 13
Last Checked: Sep 22 at 5:39PM
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 Compass Commercial Real Estate
Investment Insights
Based on property information with market context.
19465–19477 Meekland Avenue is a 12-unit multifamily property consisting of two parcels with eight single-story buildings. The unit mix includes one 3 bed/2 bath single-family home, three 3 bed/2 bath units, four 3 bed/1 bath units, two 2 bed/1 bath units, and two 1 bed/1 bath units. All units feature private patios and in-unit washer/dryer hookups, and each unit has its own water heater. Operationally, units are separately metered for both gas and electricity. The property also has a utility bill-back program in place through Livability.
Recent capital updates include roof replacements within the last two years using pitched composition roofs with wood frame stucco construction. There is also newer asphalt throughout and a new sewer main. Select units have recently updated subpanels, while the remaining electrical subpanels are a mixture of Blakeman Brothers, Square D, and Murray panels. Double-pane windows are present across every unit. Select units have been renovated with updated bathrooms, new countertops, new faucets, and marble flooring.
The property provides a total of 37 parking spaces, including 14 tandem stalls and 9 single stalls. Per the offering, 10 of the 12 units are eligible for rent increases. The site also has rear-area potential for additional detached accessory dwelling units (ADUs) under current California ADU legislation, which could broaden future income options for an incoming owner.
Recent capital updates include roof replacements within the last two years using pitched composition roofs with wood frame stucco construction. There is also newer asphalt throughout and a new sewer main. Select units have recently updated subpanels, while the remaining electrical subpanels are a mixture of Blakeman Brothers, Square D, and Murray panels. Double-pane windows are present across every unit. Select units have been renovated with updated bathrooms, new countertops, new faucets, and marble flooring.
The property provides a total of 37 parking spaces, including 14 tandem stalls and 9 single stalls. Per the offering, 10 of the 12 units are eligible for rent increases. The site also has rear-area potential for additional detached accessory dwelling units (ADUs) under current California ADU legislation, which could broaden future income options for an incoming owner.
Key Highlights
- 12‑unit multifamily across two parcels, with eight single‑story buildings and private patios for all units
- Unit mix: (1) 3 bed/2 bath, (3) 3 bed/2 bath, (4) 2 bed/1 bath, and (2) 3 bed/1 bath, plus (2) 1 bed/1 bath units
- Recent improvements include roof replacements within the last two years and double‑pane windows across every unit
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
$191,575
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
5.33%
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%
$3,831,500
$3.8M
Cap Rate 7%
$2,736,786
$2.7M
Cap Rate 9%
$2,128,611
$2.1M
Market Conditions
NOI Build-Up for 9,877 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
$367.4K $37.20/SF
− Vacancy
−$19.1K −$1.93/SF
EGI
$348.3K $35.27/SF
− OpEx
−$156.7K −$15.87/SF
NOI
$191.6K $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%
$3,831,500
Cap Rate 7%
$2,736,786
Cap Rate 9%
$2,128,611
Alternative Uses
Best Use
Apartment 5plus
$2.74M
$2.39M – $3.19M
NOI $191,575 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,722 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
506
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve separately metered units across eight single-story buildings with private patios and 37 parking spaces.
Where is this apartment building located?
The property is located at 19465-19477 Meekland Ave Hayward, CA.
What is the asking price?
The asking price for this property is $3,595,000.
What are key features of this property?
This property features: 12‑unit multifamily across two parcels, with eight single‑story buildings and private patios for all units; Unit mix: (1) 3 bed/2 bath, (3) 3 bed/2 bath, (4) 2 bed/1 bath, and (2) 3 bed/1 bath, plus (2) 1 bed/1 bath units; Recent improvements include roof replacements within the last two years and double‑pane windows across every unit
