Individually Metered 24-Unit
21501 Westpark St Hayward, CA 94541
For Sale
$6,700,000
Twenty-four townhouse-style units with separate utility metering support streamlined property operations.
Property Size20,605 SF
Lot Size0.88 Acres
Price / SF$325.16
Days on Market52
Property Features for 21501 Westpark St
General Information
Standard status
Active
Size
20,605 SF
Lot size
0.88 Acres
Property subtype
Multifamily
Listing Agency:
Marcus & Millichap
(650) 391-1806
Listed By:
Adam Richardson · License #License(s): CA: 02205735
(650) 391-1806
Source:
Marcusmillichap
Added: Jun 9
Changed: Jul 10
Last Checked: Jul 29 at 3:34AM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
21501 Westpark is a 24-unit multifamily asset featuring a townhouse-style unit mix, with 75% of the floor plans designed with 1.5 bathrooms. The property is operated on a 0.88-acre parcel with 20,605 square feet of gross building area. According to the provided information, the asset has maintained a strong physical occupancy rate of 97%. All 24 units are individually metered for water, electricity, and gas, which helps minimize landlord utility requirements.
The property is located in Hayward, California, within the central East Bay. It offers a defined, small-lot configuration suitable for investors and operators seeking a manageable number of residential units under one ownership.
From an operator or buyer perspective, the individually metered setup can simplify monthly utility administration compared with properties that rely on landlord-paid utilities. The reported 97% physical occupancy provides in-place rental performance, and the unit mix includes townhouse-style layouts that may appeal to tenants looking for more residential-style living arrangements. The offering includes the stated 6.44% cap rate based on the provided $6,700,000 list price.
The property is located in Hayward, California, within the central East Bay. It offers a defined, small-lot configuration suitable for investors and operators seeking a manageable number of residential units under one ownership.
From an operator or buyer perspective, the individually metered setup can simplify monthly utility administration compared with properties that rely on landlord-paid utilities. The reported 97% physical occupancy provides in-place rental performance, and the unit mix includes townhouse-style layouts that may appeal to tenants looking for more residential-style living arrangements. The offering includes the stated 6.44% cap rate based on the provided $6,700,000 list price.
Key Highlights
- 24‑unit multifamily asset on a 0.88‑acre parcel in Hayward, CA
- 20,605 SF gross building area with maintained 97% physical occupancy rate
- Unit mix: 75% townhouse‑style units; each has 1.5 bathrooms with an average 859 SF
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $766.5k | $37.20 |
| − Vacancy | −$39.9k | −$1.93 |
| EGI | $726.6k | $35.27 |
| − OpEx | −$327.0k | −$15.87 |
| NOI | $399.7k | $19.40 |
20,605 SF · lease $37.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$5.71M
$5.00M – $6.66M
NOI $399,656 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.37M
$5.57M – $7.43M
NOI $445,859 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Twenty-four townhouse-style units with separate utility metering support streamlined property operations.
Where is this apartment building located?
The property is located at 21501 Westpark St Hayward, CA.
What is the asking price?
The asking price for this property is $6,700,000.
What are key features of this property?
This property features: 24‑unit multifamily asset on a 0.88‑acre parcel in Hayward, CA; 20,605 SF gross building area with maintained 97% physical occupancy rate; Unit mix: 75% townhouse‑style units; each has 1.5 bathrooms with an average 859 SF
