250 Schafer Road, Hayward, California 94544, Hayward, 94544 - bed, bath
ACTIVE$1,799,000
250 Schafer Road, Hayward, California 94544
0Bed
0Bath
3,200Sqft
12,657Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Income Potential: Explicitly described as an 'Excellent income producing fourplex,' indicating a robust cash flow opportunity for investors.
Top Cons:
Inconsistent Unit Condition: With only two units renovated, the remaining two units likely require significant capital investment for modernization to achieve market-rate rents and attract premium tenants.
Compared to the nearby listings
Price:$1.80M vs avg $1.30M (+$494,000)75%
Size:3,200 sqft vs avg sqft75%
Price/sqft:$562 vs avg $075%
More Insights
Built in 1961 (64 years old).
Condition: The property was built in 1961, making it over 60 years old. While the listing states that two of the four units have been renovated, showcasing modern kitchens with dark cabinetry, granite-like countertops, stylish backsplashes, and updated appliances (stainless steel in one, white in another), along with modern bathrooms featuring new vanities and tiled showers, the other two units are unrenovated. This creates an inconsistent condition across the property. The renovated units appear to be in good condition, likely updated within the last 5-15 years. However, the unrenovated units, given the building's age, would require substantial updates to meet current standards, pulling the overall property condition to 'Fair' rather than 'Good' due to the significant investment needed for the remaining units.
Year Built
1961
Close
-
List price
$1.8M
Original List price
$1.8M
Price/Sqft
$562
HOA
-
Days on market
-
Sold On
-
MLS number
ML82005839
Home ConditionFair
Features
Patio
View-
About this home
Excellent income producing fourplex in a desirable area. All units are 2 bed one bath with laundry hookups in the unit. Two of the units have been renovated. Tenant paid and individually metered Water, Gas, and Electric.
Condition Rating
Fair
The property was built in 1961, making it over 60 years old. While the listing states that two of the four units have been renovated, showcasing modern kitchens with dark cabinetry, granite-like countertops, stylish backsplashes, and updated appliances (stainless steel in one, white in another), along with modern bathrooms featuring new vanities and tiled showers, the other two units are unrenovated. This creates an inconsistent condition across the property. The renovated units appear to be in good condition, likely updated within the last 5-15 years. However, the unrenovated units, given the building's age, would require substantial updates to meet current standards, pulling the overall property condition to 'Fair' rather than 'Good' due to the significant investment needed for the remaining units.
Pros & Cons
Pros
Strong Income Potential: Explicitly described as an 'Excellent income producing fourplex,' indicating a robust cash flow opportunity for investors.
Tenant-Friendly Utility Structure: All utilities (Water, Gas, Electric) are tenant-paid and individually metered, significantly reducing landlord operating costs and administrative overhead.
In-Unit Laundry Hookups: A highly sought-after amenity, laundry hookups in each unit enhance tenant convenience and property appeal, potentially commanding higher rents.
Partial Unit Modernization: Two of the four units have been renovated, offering updated living spaces that can attract quality tenants and provide a benchmark for future upgrades.
Desirable Location: Situated in a 'desirable area' of Hayward, which typically correlates with stable occupancy rates and potential for long-term property value appreciation.
Cons
Inconsistent Unit Condition: With only two units renovated, the remaining two units likely require significant capital investment for modernization to achieve market-rate rents and attract premium tenants.
Property Age: Built in 1961, the property is over six decades old, suggesting potential for aging infrastructure (e.g., plumbing, electrical, roof) that may necessitate future costly repairs or replacements.
Lack of Parking Information: The property description does not specify parking arrangements, which can be a critical factor for tenants in a fourplex and may lead to challenges or additional costs if inadequate.