Hayward Multifamily Property Sells for $39M

In the East Bay area, across the water from San Francisco and the peninsula, a 104-unit institutional-quality multifamily property has sold for $39 million.

Marcus & Millichap recently announced the deal when it sold Huntwood Terrace Apartments, located at 29200 Huntwood Ave. in Hayward, Calif., in its southern neighborhood. The average cost is $375,000 per unit. 

“Huntwood Terrace is conveniently located in South Hayward near the popular Union Landing Shopping Center, anchored by major retailers like Walmart, Smart & Final Extra!, Lowe’s, Best Buy, Ross, Burlington Coat Factory and Michaels,” said Kirk Trammell, executive managing director investments, in a news release.

Built in 1987, Huntwood Terrace Apartments is comprised of eight two-story residential buildings and a single-story amenity building on a 4.95-acre site. 

The average size for a Hayward apartment is 815 square feet, but this number varies greatly depending on unit type. The average rent for an apartment in Hayward is $2,227. The cost of rent varies depending on several factors, including location, size, and quality.