Vermont Hills Apartments

Address: 22811 Vermont St, Hayward, CA 94541, USA

California & West + Apartments

Created date: October 5, 2023

Date last updated: October 5, 2023

Vermont Hills Apartments is a low density 64-unit apartment community located at 22811 Vermont Street in Hayward. The property has been owned by the original developer for nearly 40 years. The community is spread out over approximately 3.7 acres on a single parcel and was built to condominium specifications. As such, future ownership would greatly benefit from converting the property from its current use into for-sale condos. Trailing 3-month condo sales in Hayward average a sale price of $538 / square foot – representing a significant profit margin relative to a traditional multifamily use.

Originally constructed in 1986, Vermont Hills is proximate to some of the most highly desirable employment centers on the west coast. The property is a short drive to Oakland (14 miles, 16 minutes), San Francisco (25 miles, 24 minutes) and Silicon Valley (23 miles, 26 minutes). Residents are also just minutes from over ~2 million square feet of dining and shopping amenities.

The property is well-maintained and boasts a tree lined perimeter that gives the community a tranquil environment in a park like setting. The interiors of the units offer mostly original, standardized finishes – all homes have two bedrooms and two bathrooms. The spacious, well-designed interiors are largely in classic, untouched condition and have white appliances and walk-in showers. There are exceptional opportunities to add home offices, transition carports to garages, add in-unit laundry to the remaining units that don’t already have it and greatly enhance the common areas and open spaces.

Property Description

First Time Offering: Vermont Hills is being offered to the open market for the first time since its original construction in 1986.
Interior Renovation Potential: Market data suggests that an extensive renovation program would result in $300 to $500 in rental upside.
Spacious Homes in Low-Density Community: All the 2-bedroom homes at Vermont Hills offer extensive balconies.
Low-Hanging Fruit with Additional Revenue: New ownership will be able to immediately implement a RUBs system in-line with most assets in the competitive set.
Opportunity for In-Unit Laundry: The large floorplans offer opportunities to add in-unit laundry to the remaining ~25% of units to better compete with newer class-A properties.
Exceptional Operations: The property has been operating at nearly
100% occupancy during the trailing 12 months with minimal collection delinquency.
Opportunities to Amenitize: The existing, filled-in pool terrace and under-utilized swatches of landscaping throughout the property.

❮ Previous Next ❯

Available

Request Information

Name

Phone

Message(optional)

Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Multifamily type:	Apartments
No. of Units:	64
Year Built:	1986
Building Size:	67,434 Sq ft
Lot Size:	160,300.00 Sq ft
APN:	416-220-13
Opportunity Zone:	No