Soto Rd Apartments

Executive Summary
Property Highlights
Location

Soto Rd Apartments

24361 Soto Road, Hayward, CA Building Size : ± 14,766 SF

$5,888,888 ($280,423/unit)

Executive Summary

Due Diligence

The Ivy Group is pleased to offer for sale SOTO, a 21 unit apartment portfolio that is 100% occupied with strong historical occupancy. The SOTO portfolio consists of three separate parcels, each totaling ± 4,922 SF that is situated on ± 8,800 SF lot.

SOTO portfolio details:

Number of units: 21
Unit mix: 12 1bed / 1bath; 6 2beds /1 bath; 3 3beds / 1.5 baths
Total building size: ± 14,766 SF
Total lot size: ± 27,350 SF
Parking: 21 spaces, one reserved carport for each unit
Year built: 1964

Each property consists of seven units with the following unit mix:

Four units consisting of 1 bed / 1 bath
Two units consisting of 2 beds / 1 bath
One unit consisting of 3 beds / 1.5 baths

SOTO has been well maintained since it was built in 1964 and has recently undergone certain upgrades, including the installation of a brand new roof in 2006. SOTO features a myriad of common area amenities including three onsite laundry facilities, 21 reserved carport parking spaces (one for each unit), and spacious balconies. Furthermore, the each unit is separately metered for electricity.

SOTO is located in Hayward, CA in the Burbank neighborhood. SOTO offers an investor a unique opportunity to acquire one of the most desirable multifamily portfolio in Hayward with a value add component. Located right off of Jackson Street, SOTO is within walking distance to shops, restaurants and entertainment venues. The portfolio sits mere minutes from the Interstate 880 freeway. The portfolio’s prime location, coupled with clear upside potential, make it a fantastic investment opportunity.

Investment Highlights:

Located in very desirable part of Hayward, CA
Built in 1964, Rent Control
Mix of one, two and three units
Three onsite laundry facilities
Twenty one reserved, carport surface parking spaces (one for each unit)
Roof replaced in July 2006
Walk to shops, restaurants, DMV, schools, etc
Easy access to Interstate 880 Freeway

Current ownership has invested in upgrading the common areas and some units. As such, a new owner has the opportunity to continue the existing renovation scope on the remaining units and capture on upside through renovation premiums.