29605 Pacific St Hayward, CA 94544

Property Details for 29605 Pacific St

Year built

1961

Construction

WOOD

Lot size

1.11 lot acres

Property size

5,100 SF

Property type

Warehouses

Property subtype

Self storage facilities

APN

83-453-7

APU

834537

Description

This exceptional value-add self-storage opportunity in Hayward, CA, presents a compelling investment prospect. The property, known as Hayward Pacific Mini Storage, comprises 225 units across eight single-story buildings totaling 61,700 net rentable square feet on a 2.66-acre lot. Built in 1969, the facility boasts convenient drive-up access, 24-hour camera surveillance, and a secure gated entrance, enhancing tenant appeal and security. Currently operating at 88% occupancy (as of June 1, 2024), the property generates a current NOI of $380,819, translating to a 6.04% cap rate. Pro-forma projections indicate a significant increase in NOI to $427,905 and a 6.79% cap rate. The asking price is $6,300,000, representing a price per unit of $28,000 and a land value of $54.37 per square foot. The property's strategic location in Hayward provides easy access to major employment centers in Oakland, the Peninsula, Tri-Valley, Silicon Valley, and San Francisco, further enhanced by proximity to Interstate 880, Interstate 580, the San Mateo-Hayward Bridge, and BART stations. Zoned IL, this asset offers significant upside potential for investors seeking a strong performing, well-located self-storage facility in a thriving Bay Area market. The property's current mom-and-pop ownership structure presents an opportunity for streamlined management and operational improvements.

Location Insight

City

Hayward

County

Alameda

State

California

Longitude

-122.053

Latitude

37.6262

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments