Triplex with Separate PGE
For Sale
$799,950
Pending
21003 Foothill Blvd, Hayward, CA 94541
MULTI_FAMILY - Hayward, CA
Property Size1,104 SF
Lot Size0.17 Acres
Days on Market49
Property Features for 21003 Foothill Blvd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 7, Bathroom 6, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 5, Bathroom 3, Bathroom 4, Bedroom 2, Bathroom 2, Bathroom 1
Parking features
Parking Lot, Guest
Exterior features
Back Yard, Front Yard
Appliances
Gas Water Heater
Subdivision
Cherryland
Lot features
Irregular Lot, Premium Lot
Elementary school district
Hayward (510) 784-2600
High school district
Hayward (510) 784-2600
Directions
Maddox RD to foothill Blvd property is between Maddox Rd & Ash, closer to Maddox..
Standard status
Pending
APN
4140051036
Size
1,104 SF
Lot size
0.17 Acres
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas, Wall Furnace
Water source
Public
Building Details
Year built
1945
Number of units
3
Flooring type
Laminate, Carpet, Vinyl
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
EXP Realty of California, Inc
(888) 584-9427
Listed By:
Gregory Silva
(510) 889-1777
Added: Jun 25
Changed: Aug 3
Last Checked: Aug 12 at 1:06PM
MLS# 41139552
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex offers three separate bungalow-style homes on one lot, each with its own PGE meters. The unit mix includes two 2-bedroom, 1-bath homes and one 1-bedroom, 1-bath home. Several of the homes have newer roofs, and each home is described as coming with a stove and refrigerator. The property is a wood siding building originally constructed in 1945.
The exterior includes both front and back yard space. Heating is provided by natural gas wall furnaces and a gas water heater. Flooring is listed as a mix of laminate, carpet, and vinyl. Water and sewer are public, and natural gas is available. Parking is provided with a parking lot and guest parking.
With three individually metered homes, the layout supports multiple living and rental arrangements while keeping each residence separately served.
The exterior includes both front and back yard space. Heating is provided by natural gas wall furnaces and a gas water heater. Flooring is listed as a mix of laminate, carpet, and vinyl. Water and sewer are public, and natural gas is available. Parking is provided with a parking lot and guest parking.
With three individually metered homes, the layout supports multiple living and rental arrangements while keeping each residence separately served.
Key Highlights
- Three bungalow‑style homes on one lot with separate PGE meters
- Lot size: 0.166 acres; building size: 1104 SF
- Two 2‑bedroom, 1‑bath homes plus one 1‑bedroom, 1‑bath home
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
$23,802
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
2.98%
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%
$476,040
$476.0K
Cap Rate 7%
$340,029
$340.0K
Cap Rate 9%
$264,467
$264.5K
Market Conditions
NOI Build-Up for 1,104 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
$35.8K $32.40/SF
− Vacancy
−$1.8K −$1.60/SF
EGI
$34.0K $30.80/SF
− OpEx
−$10.2K −$9.24/SF
NOI
$23.8K $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%
$476,040
Cap Rate 7%
$340,029
Cap Rate 9%
$264,467
Alternative Uses
Best Use
Multifamily LT 5
$340.0K
$297.5K – $396.7K
NOI $23,802 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$305.9K
$267.7K – $356.9K
NOI $21,413 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$341.3K
$298.6K – $398.2K
NOI $23,889 @ 7.0% cap · market cap 2.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,058
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 - Bungalow-style triplex with three homes, separate PGE meters, and public water and sewer on a 0.166-acre lot.
Where is this triplex located?
The property is located at 21003 Foothill Blvd Hayward, CA.
What is the asking price?
The asking price for this property is $799,950.
What are key features of this property?
This property features: Three bungalow‑style homes on one lot with separate PGE meters; Lot size: 0.166 acres; building size: 1104 SF; Two 2‑bedroom, 1‑bath homes plus one 1‑bedroom, 1‑bath home
