29605 Pacific St Hayward, CA 94544

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.