21459 Locust Street, Hayward, California 94541, Hayward, 94541 - 0 bed, 0 bath
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21459 Locust Street
Hayward, California 94541
ACTIVE UNDER CONTRACT
CONDITION: POOR
0Beds
0Baths
1,000Sq Ft
7,498Lot Size
Property Price
LIST PRICE$599,000
EST. MARKET VALUE
$577,407
3% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $599,000—positioned well below the $577,408 Fair Market Value by -3%. Featuring Zoning R-2 and a 7,500 sq. ft. lot, this site offers significant development potential for up to 8 units by-right. With a Condition Rating of 5, the aging structure requires comprehensive renovation, making it a strategic asset for Buy-and-Hold Investors or Developers seeking to leverage SB 684/SB 1123 for high-density residential growth in a transit-oriented location.
Estimated Market Value
$577,407
Based on Realkey algorithm analyzing recent comparable sales in Hayward.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 21459 Locust Street Subject | $599,000* List Price | 0 | 0 | 1,000 | $577 | - |
A 987 Simon Street Sold | $649,000 | 0 | 0 | 1,056 | $615 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1900, this 124-year-old property exceeds the 30-50 year threshold for poor condition without a comprehensive renovation. While the interior shows a basic cosmetic refresh (paint and flooring), the exterior exhibits significant deferred maintenance and peeling paint. The listing's heavy emphasis on development potential and land value further indicates that the existing structure and its aging systems likely require a full rehab to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Significant Development Potential
Zoned R-2 in unincorporated Cherryland, the property includes a feasibility study suggesting the potential for 4 to 6 units, leveraging SB 684/SB 1123 for high-density residential growth.
- Strategic Transit-Oriented Location
The property is ideally situated near BART, major transit corridors, shopping, and employment hubs, ensuring strong future demand for developed units.
- Versatile Holding Asset
The existing 1900 Queen Anne-style home offers immediate utility as a residence or rental, providing cash flow while the owner pursues development entitlements and permits.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =7498, other record lot size in square feet = 15000. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1000, other record living area = 1893.
- Entitlement and Permitting Risk
Development plans are currently conceptual and not yet approved; achieving higher-density unit counts may require a Conditional Use Permit (CUP) and complex county approvals.
- Aging Primary Structure
Built in 1900, the existing 3-bedroom home may require significant maintenance or modernization to remain competitive as a rental during the pre-development phase.
About 21459 Locust Street
Charming Queen Anne-style 3-bed, 1-bath home on an approx. 50' x 150' (7,500 sq. ft.) lot in unincorporated Cherryland, Alameda County. Zoned R-2 with significant development potential. Rare TWO-LOT opportunity! Adjacent vacant 50' x 150' R-2 parcel, created through a recorded SB 684/SB 1123 lot split, is separately offered for $300,000. Purchase separately or acquire both legal parcels for a combined approx. 15,000 sq. ft. development site, with flexibility to develop each parcel independently. Final feasibility study and conceptual renderings now available! Study identifies up to 4 homes per lot/8 total by-right, plus higher-density concepts of 5 to 6 homes per lot 10 to12 total. Parking approach - covered or uncovered - will depend on final development plan and unit count. Higher-density concepts may require a CUP, phased permitting and/or County approval. Existing home offers immediate use as a residence, rental or holding asset while development plans are pursued. Near BART, transit, shopping, schools and employment. Feasibility study/renderings are conceptual and not approved plans or entitlements. Buyer to independently verify zoning, unit count, ADUs, parking, fire, utilities, permitting and all development requirements with Alameda County and applicable agencies.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1900
- Lot Size
- 7,498 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,000 | 2,073.4 |
| Lot Size | 7,498 | 8,250 |
| Price | $599.0K | $940.6K |
| Price per sq ft | $599 | $474 |
| Built year | 1900 | 1938 |
| HOA | $0 | $0 |
| Days on market | 26 | 83 |
Pricing History
Listed for Sale
Aug 14, 2026
$599,000
Initial Listing
Sold
Jul 6, 2023
$800,000
Public Record