Low-Density 12-Unit Apartment
For Sale
$3,595,000
Pending
19465 Meekland Avenue, Hayward, CA 94541
Twelve single-story apartment homes on two parcels with private patios, separate utilities, and 37 parking spaces.
Property Size9,877 SF
Days on Market199
Property Features for 19465 Meekland Avenue
General Information
Standard status
Pending
Size
9,877 SF
Total Parking Spaces
37
Property subtype
5+ Units / Five or More Units
Additional Details
Cap Rate
7%
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$42,723
Amenities
Oven Range - Gas
Building Details
Year Built
1957
Buildings
9
Stories
1
Listing Agency:
Compass
Listed By:
Ray Rodriguez · License #01999734
(626) 483-5136
Source:
Compass
Added: Apr 14
Changed: Oct 26
Last Checked: Oct 28 at 11:54AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale multifamily property consists of 12 apartment units spread across two parcels and nine single-story buildings, offering a low-density residential feel. Unit mix includes one 3BD/2BA single-family-style home, three 3BD/2BA units, two 3BD/1BA units, four 2BD/1BA units, and two 1BD/1BA units. Every unit includes a private patio, in-unit washer/dryer hookups, individual water heaters, and separate gas and electric metering.
The property is located in unincorporated Hayward, offered as a 7.00% cap rate asset per the current marketing materials. There are 37 parking spaces total, including 14 tandem spaces and nine single spaces, plus a Livability bill-back program.
Recent capital improvements include roof replacements within the last two years, a new sewer main, newer asphalt, updated subpanels in select units, and double-pane windows throughout. Select units have been renovated with updated baths, new countertops, and marble flooring. Ten of the 12 units are eligible for rent increases, creating an immediate path to improved income. The rear of the site also presents ADU development potential under current California legislation, which may allow for additional income growth without acquiring new land.
The property is located in unincorporated Hayward, offered as a 7.00% cap rate asset per the current marketing materials. There are 37 parking spaces total, including 14 tandem spaces and nine single spaces, plus a Livability bill-back program.
Recent capital improvements include roof replacements within the last two years, a new sewer main, newer asphalt, updated subpanels in select units, and double-pane windows throughout. Select units have been renovated with updated baths, new countertops, and marble flooring. Ten of the 12 units are eligible for rent increases, creating an immediate path to improved income. The rear of the site also presents ADU development potential under current California legislation, which may allow for additional income growth without acquiring new land.
Key Highlights
- 12‑unit, low‑density apartment asset built in 1957 across two parcels in unincorporated Hayward
- Unit mix: (1) 3BD/2BA SFR, (3) 3BD/2BA, (2) 3BD/1BA, (4) 2BD/1BA, and (2) 1BD/1BA
- Private patios for all units with in‑unit W/D hookups, individual water heaters, and separate gas and electric metering
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$191,575
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Twelve single-story apartment homes on two parcels with private patios, separate utilities, and 37 parking spaces.
Where is this apartment building located?
The property is located at 19465 Meekland Avenue 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, low‑density apartment asset built in 1957 across two parcels in unincorporated Hayward; Unit mix: (1) 3BD/2BA SFR, (3) 3BD/2BA, (2) 3BD/1BA, (4) 2BD/1BA, and (2) 1BD/1BA; Private patios for all units with in‑unit W/D hookups, individual water heaters, and separate gas and electric metering
