Well-maintained trophy fourplex in gated complex of 4 identical buildings with stable all month-to-month tenants (5, 5, 8, and 9 years)! All tenants signed estoppels and 60-day notices with their rent increasing to $1,600/month effective June 1st for 5.09% cap rate. (Market rent is $2,000 per 12/5/2018 loan appraisal. Two identical units next door rented for $1,850 which would be a 6.20% cap rate so there is tremendous upside potential!) Vacant storage room can generate a bonus $600-$1,000/year rent or laundry room income. Security gated with 2 Ring cameras. Rest of windows are being replaced. Extensive rehab underway for Apt A and Apt C to a lesser extent. Both to be completed by end of March. Trash/recycling/landscaping/security gate maintenance informally shared with 3 other owners. Complex laundry room next door. Short 16 min walk to South Hayward BART. Tenants all pay rent via automatic ACH checking acct deduction via Cozy.co at no cost to them or landlord. Apt B photos from 2013.
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