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Property profile & analytics
OFF-MARKET
Estimated value
$4,050,000
Apartment buildings
21788 Thelma St Hayward, CA 94541-5988
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US09-6659253
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1965
Construction
WOOD
Total area
12,747 SF
Lot
0.45 ac (19,500 SF)
APN
432-28-152
UPID
US09-6659253
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.05M
CAP Approach
CAP
$3.81M
Comparable Approach
Comparable
$4.30M
Blend (final)
Blend
$4.05M
Owner & transaction history
Thelma LLC · 2 yrs held
Thelma LLC
since 2024
Last sale
$4.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.3M
+104.0%
Neighborhood: shopping center
$5.4M
+76.3%
Auto repair, garage
$4.7M
+53.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Hayward submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hayward submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,050,000
ML approach
$4,050,000
CAP Approach
CAP Return
Estimation
6%
$4,120,000
6.5%
$3,805,000
7%
$3,530,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,070,000
Current use
RESTAURANT
$6,270,000
Change: +104% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,415,000
Change: +76% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,715,000
Change: +53% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,605,000
Change: +17% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,465,000
Change: +13% · Conversion: Difficult
RETAIL STORES
$3,450,000
Change: +12% · Conversion: Difficult
MEDICAL BUILDING
$3,400,000
Change: +11% · Conversion: Moderate
Blend value · Realmo final
$4.05M
Range $3.65M – $4.46M · ±10% · vs last sale $4.05M (Apr 3 2024)
Last sale anchor
$4.05M
Apr 3 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$318 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$36,426
Tax year 2023
Assessed value
$3,617,500
Assessed 2024
Previous assessed
$2,288,692
+58.1% YoY
Effective rate
1.01%
On assessed value
Assessed land
$1,080,000
Assessed improvement
$2,537,500
Applied tax rate
25.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1965
Construction
WOOD
Heating
NONE
Buildings
3
Stories
2
Units
15
Bathrooms
15
Total area
12,747 SF
Lot
0.45 ac (19,500 SF)
APN
432-28-152
UPID
US09-6659253
Jurisdiction
ALAMEDA
Metro division
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.1M
RESTAURANT
Est. value
$6.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.4M
AUTO REPAIR, GARAGE
Est. value
$4.7M
COMMERCIAL (GENERAL)
Est. value
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$3.5M
RETAIL STORES
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Construction
WOOD
Heating
NONE
Stories
2
Buildings
3
Units
15
Bathrooms
15
Lot
0.45 ac
Current owner
From public records · entity-resolved
Thelma LLC
Entity
Mailing address
35250 SPANISH BAY CT, UNION CITY, CA 94587
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 3, 2024
$4,050,000
Thelma LLC
Potluri Ventures2 LLC
Grant Deed
$2,365,000 · Sofi Bank NA
Feb 21, 2024
—
Potluri Ventures2 LLC
—
Deed
related
$2,650,000 · Lone Oak Fund LLC
Aug 31, 2023
$7,000,000
Potluri Ventures2 LLC
Levent Ertoz
Grant Deed
$4,200,000 · Lone Oak Fund LLC
Dec 16, 2016
—
Ertoz Living Trust
—
Deed
related
$3,000,000 · First Foun Bk
Apr 30, 2014
—
Ertoz Living Trust
Marie Hinton Family Partnership Ltd
Grant Deed
$2,515,000 · Umpqua Bank
Jan 8, 2003
—
Marie Hinton Family Ptshp Ltd
Hinton,tr
Quit Claim Deed
related
—
Sep 5, 2001
—
Hinton Trust
Hinton,marie
Quit Claim Deed
related
—
Jul 16, 1998
—
Hinton Trust
Hinton,marie
Quit Claim Deed
related
—
Dec 29, 1997
—
Barbara J Harrison
Hinton Trust
Grant Deed
related
—
Jan 9, 1996
—
Barbara J Harrison
Hinton,marie
Grant Deed
related
—
Oct 13, 1995
—
Barbara J Harrison
Hinton,marie
Grant Deed
related
—
—
—
Ertoz Living Trust
—
Deed Of Trust
related
$3,000,000 · First Foun Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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