Triplex Near
For Sale
$999,000
Pending
20940 Locust St, Hayward, CA 94541
Multifamily property with three residential units in unincorporated Hayward.
Property Size3,196 SF
Days on Market13
Property Features for 20940 Locust St
General Information
Standard status
Pending
Size
3,196 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1966
Listing Agency:
KW Advisors East Bay
(510) 381-7451
Listed By:
Danielle Keil · License #01280917
(510) 381-7451
Source:
Exitrealty
Added: Aug 14
Changed: Aug 25
Last Checked: Aug 26 at 7:20AM
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 KW Advisors East Bay
Investment Insights
Based on property information with market context.
This multifamily property contains three residential units in a building constructed in 1966. The triplex is located in Cherryland, an unincorporated area of Hayward, and is positioned near downtown.
The property records a bike score of 59, a walk score of 50, and a transit score of 48, reflecting bikeable conditions, car-dependent walk access, and some transit availability.
The property records a bike score of 59, a walk score of 50, and a transit score of 48, reflecting bikeable conditions, car-dependent walk access, and some transit availability.
Key Highlights
- Three‑unit multifamily property
- Built in 1966
- Located in Cherryland, unincorporated Hayward
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
$68,905
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
6.90%
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%
$1,378,100
$1.4M
Cap Rate 7%
$984,357
$984.4K
Cap Rate 9%
$765,611
$765.6K
Market Conditions
NOI Build-Up for 3,196 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
$103.6K $32.40/SF
− Vacancy
−$5.1K −$1.60/SF
EGI
$98.4K $30.80/SF
− OpEx
−$29.5K −$9.24/SF
NOI
$68.9K $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%
$1,378,100
Cap Rate 7%
$984,357
Cap Rate 9%
$765,611
Alternative Uses
Best Use
Multifamily LT 5
$984.4K
$861.3K – $1.15M
NOI $68,905 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$885.6K
$774.9K – $1.03M
NOI $61,990 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$987.9K
$864.5K – $1.15M
NOI $69,156 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
945
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 - Multifamily property with three residential units in unincorporated Hayward.
Where is this triplex located?
The property is located at 20940 Locust St Hayward, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three‑unit multifamily property; Built in 1966; Located in Cherryland, unincorporated Hayward
