18-Unit Apartment
944 Walpert St, Hayward, CA 94541
For Sale
$4,325,000
Well-maintained three-story multifamily with an elevator, covered parking, and a mix of 1- and 2-bedroom units.
Property Size14,202 SF
Days on Market165
Property Features for 944 Walpert St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Highway Access
Additional Details
Cap Rate
Multifamily Units
Building Details
Building Size
Year Built
Stories
Tenancy
Listing Agency:
BCRE
Listed By:
Davide Pio, · License #01522969
(510) 815-2000
Source:
Realestatenovo
Added: May 29
Changed: Nov 4
Last Checked: Nov 8 at 1:00PM
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
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Investment Insights
Based on property information with market context.
This apartment building comprises eighteen (18) units across three floors, including nine one-bedroom/one-bath residences and nine two-bedroom/one-bath residences. The property is elevator-served, with a laundry room available on two floors. Covered parking includes eighteen (18) spaces plus eight additional uncovered spaces, which are rented for a fee.
Recent upgrades support an updated, operationally efficient setting. Improvements cited include a new roof and electric panels installed in 2025, SB 721 balcony clearance planned for 2026, and most units updated with modern open kitchens featuring stone countertops. The asset has been well-maintained and upgraded over the years.
Located in the Mission/Foothills area of Hayward, the property is under one mile from downtown Hayward and Hayward BART, and about 1.5 miles from CSU East Bay. Access to regional commuting is supported by quick drives to the Highway 580/238 interchange and the 880/92 freeway, connecting to San Francisco, Silicon Valley, and the peninsula. The unit mix and common amenities make the building well-suited for an investor seeking a turn-key multifamily with practical in-place features.
Recent upgrades support an updated, operationally efficient setting. Improvements cited include a new roof and electric panels installed in 2025, SB 721 balcony clearance planned for 2026, and most units updated with modern open kitchens featuring stone countertops. The asset has been well-maintained and upgraded over the years.
Located in the Mission/Foothills area of Hayward, the property is under one mile from downtown Hayward and Hayward BART, and about 1.5 miles from CSU East Bay. Access to regional commuting is supported by quick drives to the Highway 580/238 interchange and the 880/92 freeway, connecting to San Francisco, Silicon Valley, and the peninsula. The unit mix and common amenities make the building well-suited for an investor seeking a turn-key multifamily with practical in-place features.
Key Highlights
- 18‑unit, three‑story multifamily property built in 1967, including an elevator serving all 3 floors
- Unit mix: nine 1 bed/1 bath units and nine 2 bed/1 bath units
- Parking income: 18 covered spaces plus 8 additional uncovered spaces rented for a fee
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$275,463
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,509,260
$5.5M
Cap Rate 7%
$3,935,186
$3.9M
Cap Rate 9%
$3,060,700
$3.1M
Market Conditions
NOI Build-Up for 14,202 SF
Gross rent
$528.3K $37.20/SF
− Vacancy
−$27.5K −$1.93/SF
EGI
$500.8K $35.27/SF
− OpEx
−$225.4K −$15.87/SF
NOI
$275.5K $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 Rate 5%
$5,509,260
Cap Rate 7%
$3,935,186
Cap Rate 9%
$3,060,700
Alternative Uses
Best Use
Apartment 5plus
$3.94M
$3.44M – $4.59M
NOI $275,463 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.39M
$3.84M – $5.12M
NOI $307,309 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
18
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,472
Businesses Nearby
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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
$781,900
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Hayward, CA
Properties on Market for Apartment buildings in Hayward
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained three-story multifamily with an elevator, covered parking, and a mix of 1- and 2-bedroom units.
Where is this apartment building located?
The property is located at 944 Walpert St Hayward, CA.
What is the asking price?
The asking price for this property is $4,325,000.
What are key features of this property?
This property features: 18‑unit, three‑story multifamily property built in 1967, including an elevator serving all 3 floors; Unit mix: nine 1 bed/1 bath units and nine 2 bed/1 bath units; Parking income: 18 covered spaces plus 8 additional uncovered spaces rented for a fee
