Multifamily

The Townhomes of Casa de Luna

22189-22211 S Garden Ave, Hayward, CA 94541

Listing Price: $16,000,000

Cap Rate
4.81%
Number of Units
48
Price/Unit
$333,333
Price/Gross SF
$401.51
Gross SF
39,850

Investment Overview

The Townhomes of Casa de Luna is made up of 48 units, consisting entirely of highly attractive two-bedroom townhouse units with rear outdoor patios. Townhouse style units garner more tenant interest and achieve higher rents because they feel more spacious, allow more natural light, and do not have neighbors above or below. Townhouse units are also a more efficient use of space for tenants to entertain using the kitchen, outdoor patio, and living room on the first floor and the private bedrooms and bathroom upstairs. The current average rental income for a unit at Casa de Luna is $2,141 per month. A full renovation program should allow a new owner to realize an additional $250 or more per month. Units are currently renovated to market standard on turnover, including granite counters, new flooring, tile shower enclosures, and updated vanities. Potential to add kitchen islands or an additional bathroom as well as top of the market finishes like new cabinets and back splashes will further modernize the units and achieve top pricing.

Investment Highlights

  • Highly Desirable Two-Bathroom Townhouse-Style Units
  • Rental upside has been proven by seller who has achieved $2,349 per month for units by adding a kitchen island
  • Very Large 1.94-Acre Parcel Well-Located in the Heart of the East Bay Area with Close Proximity to Highway 92 which Connects Tenants to the Major Employers of Silicon Valley

Exclusively Listed By

Multifamily

The Townhomes of Casa de Luna

Listing Price: $16,000,000

Cap Rate
4.81%
Number of Units
48
Price/Unit
$333,333
Price/Gross SF
$401.51
Gross SF
39,850

Investment Highlights

  • Highly Desirable Two-Bathroom Townhouse-Style Units
  • Rental upside has been proven by seller who has achieved $2,349 per month for units by adding a kitchen island
  • Very Large 1.94-Acre Parcel Well-Located in the Heart of the East Bay Area with Close Proximity to Highway 92 which Connects Tenants to the Major Employers of Silicon Valley

Investment Overview

The Townhomes of Casa de Luna is made up of 48 units, consisting entirely of highly attractive two-bedroom townhouse units with rear outdoor patios. Townhouse style units garner more tenant interest and achieve higher rents because they feel more spacious, allow more natural light, and do not have neighbors above or below. Townhouse units are also a more efficient use of space for tenants to entertain using the kitchen, outdoor patio, and living room on the first floor and the private bedrooms and bathroom upstairs. The current average rental income for a unit at Casa de Luna is $2,141 per month. A full renovation program should allow a new owner to realize an additional $250 or more per month. Units are currently renovated to market standard on turnover, including granite counters, new flooring, tile shower enclosures, and updated vanities. Potential to add kitchen islands or an additional bathroom as well as top of the market finishes like new cabinets and back splashes will further modernize the units and achieve top pricing.

Exclusively Listed By

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