Occupied Triplex with Established
For Sale
$1,250,000
24024 Park St, Hayward, CA 94541
Three residential units currently have long-term tenants and established rental histories.
Property Size2,484 SF
Price / SF$503.22
Days on Market15
Property Features for 24024 Park St
General Information
Standard status
Active
Size
2,484 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1967
Listing Agency:
BCRE
Listed By:
Edder Barcenas-Cortez · License #02152984
(510) 206-6526
Source:
Exitrealty
Added: Sep 9
Changed: Sep 11
Last Checked: Sep 15 at 4:16AM
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 BCRE
Investment Insights
Based on property information with market context.
This 2,484-square-foot triplex, built in 1967, contains three occupied residential units. Each unit has an established rental history, providing continuity of tenancy for an investor acquiring the property.
The property is located on Park Street in Hayward, within a central area offering access to everyday shopping, dining, transportation, employment centers, and major commuter routes serving the East Bay. Its three-unit configuration and current occupancy make it a clearly defined multifamily asset for an income-property portfolio.
The property is located on Park Street in Hayward, within a central area offering access to everyday shopping, dining, transportation, employment centers, and major commuter routes serving the East Bay. Its three-unit configuration and current occupancy make it a clearly defined multifamily asset for an income-property portfolio.
Key Highlights
- Three‑unit multifamily property with all units currently occupied
- 2,484 square feet of property size
- Built in 1967
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
$53,554
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
4.28%
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%
$1,071,080
$1.1M
Cap Rate 7%
$765,057
$765.1K
Cap Rate 9%
$595,044
$595.0K
Market Conditions
NOI Build-Up for 2,484 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
$80.5K $32.40/SF
− Vacancy
−$4.0K −$1.60/SF
EGI
$76.5K $30.80/SF
− OpEx
−$23.0K −$9.24/SF
NOI
$53.6K $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%
$1,071,080
Cap Rate 7%
$765,057
Cap Rate 9%
$595,044
Alternative Uses
Best Use
Multifamily LT 5
$765.1K
$669.4K – $892.6K
NOI $53,554 @ 7.0% cap · market cap 4.28%
Second Best
Apartment 5plus
$688.3K
$602.3K – $803.0K
NOI $48,180 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$767.9K
$671.9K – $895.8K
NOI $53,750 @ 7.0% cap · market cap 4.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,248
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units currently have long-term tenants and established rental histories.
Where is this triplex located?
The property is located at 24024 Park St Hayward, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑unit multifamily property with all units currently occupied; 2,484 square feet of property size; Built in 1967
