Gated-Entry Triplex with
For Sale
$699,000
Pending
22622 2nd Street, Hayward, CA 94541
MULTI_FAMILY - Hayward, CA
Property Size1,714 SF
Lot Size0.23 Acres
Days on Market163
Property Features for 22622 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1
Parking features
Off Street, Covered, Garage, Parking Lot
Exterior features
Storage, Storage Area
Fencing
Partial, Fenced
Appliances
Gas Water Heater
Subdivision
Hayward
Lot features
Level, Premium Lot, Private, Security Gate
Directions
Foothill Blvd \2nd St.
Standard status
Pending
Size
1,714 SF
Lot size
0.23 Acres
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Multi Units
Building Details
Year built
1945
Number of units
3
Flooring type
Linoleum, Carpet, Vinyl
Building materials
Stucco
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Paramount Buildings & Loans
(510) 219-2845
Listed By:
Jerry Kumar · License #01255148
(510) 219-2845
Added: Feb 28
Changed: Aug 2
Last Checked: Aug 10 at 6:06PM
MLS# 41125555
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 at 22622 2nd Street offers three one-bedroom, one-bath units configured with on-site parking and multiple storage areas. Two units are rented, and one unit is currently vacant and described as needing to be fixed. The property includes reserved parking and a gated entry, with partial fencing around the site.
Built in 1945, the building features stucco construction and a composition roof. Heating is forced air with natural gas, and cooling is described as multi units. Flooring includes linoleum, carpet, and vinyl, and the property has a gas water heater.
Additional functional space includes a main storage area of 564 sq ft (28x21.3) and a second storage area of 156 sq ft (20x7.8), plus an office at 96.25 sq ft (11x8.25) with additional offices totaling 136.83 sq ft (7.1x19.3) and 179.49 sq ft (9.3x19.3) outside office space. The site also has a double garage (333.98 sq ft, 17.25x19.3) and a single garage (159.23 sq ft, 8.25x19.3), a den of 72.63 sq ft, and an outside lot area of 957 sq ft. Electrical connections are noted throughout the property.
Built in 1945, the building features stucco construction and a composition roof. Heating is forced air with natural gas, and cooling is described as multi units. Flooring includes linoleum, carpet, and vinyl, and the property has a gas water heater.
Additional functional space includes a main storage area of 564 sq ft (28x21.3) and a second storage area of 156 sq ft (20x7.8), plus an office at 96.25 sq ft (11x8.25) with additional offices totaling 136.83 sq ft (7.1x19.3) and 179.49 sq ft (9.3x19.3) outside office space. The site also has a double garage (333.98 sq ft, 17.25x19.3) and a single garage (159.23 sq ft, 8.25x19.3), a den of 72.63 sq ft, and an outside lot area of 957 sq ft. Electrical connections are noted throughout the property.
Key Highlights
- Triplex with 2 units rented and 1 vacant unit needing to fix per your taste
- Gated entry plus reserved off‑street, covered parking with parking lot and garages
- 0.2296‑acre lot; built in 1945 with stucco construction and a composition roof
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
$36,953
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
5.29%
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%
$739,060
$739.1K
Cap Rate 7%
$527,900
$527.9K
Cap Rate 9%
$410,589
$410.6K
Market Conditions
NOI Build-Up for 1,714 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
$55.5K $32.40/SF
− Vacancy
−$2.7K −$1.60/SF
EGI
$52.8K $30.80/SF
− OpEx
−$15.8K −$9.24/SF
NOI
$37.0K $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%
$739,060
Cap Rate 7%
$527,900
Cap Rate 9%
$410,589
Alternative Uses
Best Use
Multifamily LT 5
$527.9K
$461.9K – $615.9K
NOI $36,953 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$474.9K
$415.6K – $554.1K
NOI $33,245 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$529.8K
$463.6K – $618.1K
NOI $37,088 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,176
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 - Triplex with two rented units, one vacant unit needing repairs, gated entry, and reserved off-street covered parking.
Where is this triplex located?
The property is located at 22622 2nd Street Hayward, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Triplex with 2 units rented and 1 vacant unit needing to fix per your taste; Gated entry plus reserved off‑street, covered parking with parking lot and garages; 0.2296‑acre lot; built in 1945 with stucco construction and a composition roof
