6-Unit Apartment
For Sale
Contact for pricing
21393-21397 & 21409-21413 Foothill Blvd, Hayward, CA 94541
Two contiguous parcels combine residential units with access to transit, downtown amenities, and regional road connections.
Property Size4,219 SF
Price / SF$237.02
Days on Market9
Property Features for 21393-21397 & 21409-21413 Foothill Blvd
General Information
Standard status
Active
Size
4,219 SF
Property subtype
Multifamily
Net Operating Income
$44,309
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
6
Building Details
Year Built
1910
Units
6
Tenancy
Multi
Listing Agency:
Compass San Francisco
(415) 988-9719
Listed By:
Jeremy Lee · License #01951309
Source:
Crexi
Added: Aug 4
Changed: Aug 10
Last Checked: Aug 11 at 4:24PM
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 San Francisco
Investment Insights
Based on property information with market context.
The offering combines two contiguous parcels into one residential apartment property with six units. The unit count includes three legal units and three non-conforming units, creating a mixed compliance profile that should be evaluated as part of due diligence. The improvements date to 1910.
The property is located on Foothill Boulevard in Hayward, with proximity to California State University, East Bay, Downtown Hayward, BART stations, and the I-580 corridor. Retail amenities and green spaces are also identified in the surrounding neighborhood. The combined parcel configuration and six-unit layout provide a defined residential income property with both established units and documented non-conforming components.
The property is located on Foothill Boulevard in Hayward, with proximity to California State University, East Bay, Downtown Hayward, BART stations, and the I-580 corridor. Retail amenities and green spaces are also identified in the surrounding neighborhood. The combined parcel configuration and six-unit layout provide a defined residential income property with both established units and documented non-conforming components.
Key Highlights
- Six residential units across two contiguous parcels
- Unit mix includes 3 legal units and 3 non‑conforming units
- Located on Foothill Boulevard in Hayward, CA
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
$81,832
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
8.18%
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%
$1,636,640
$1.6M
Cap Rate 7%
$1,169,029
$1.2M
Cap Rate 9%
$909,244
$909.2K
Market Conditions
NOI Build-Up for 4,219 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
$156.9K $37.20/SF
− Vacancy
−$8.2K −$1.93/SF
EGI
$148.8K $35.27/SF
− OpEx
−$67.0K −$15.87/SF
NOI
$81.8K $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%
$1,636,640
Cap Rate 7%
$1,169,029
Cap Rate 9%
$909,244
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,832 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,292 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,008
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?
Apartment building - Two contiguous parcels combine residential units with access to transit, downtown amenities, and regional road connections.
Where is this apartment building located?
The property is located at 21393-21397 & 21409-21413 Foothill Blvd Hayward, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Six residential units across two contiguous parcels; Unit mix includes 3 legal units and 3 non‑conforming units; Located on Foothill Boulevard in Hayward, CA
