**Hayward Multifamily Property Sold for $2.93 Million, Expansion Planned**
Marcus & Millichap has announced the successful sale of a 12-unit multifamily property located at 152 Smalley Avenue in Hayward for a total of $2,925,000.
“The seller is a longtime multifamily owner in Hayward who has decided to transfer out of multifamily and into triple-net properties out of state,” said Adam Richardson, Investment Associate at Marcus & Millichap’s Palo Alto office. “The buyer plans to expand the property to add additional units.”
Richardson marketed the property on behalf of the seller, Cellu Dhawan. Grace Chavez of Stone Castle Realty represented the buyers, Jeff Yip, Becky Yip, and Sandy Wong. Financing support for the transaction was provided by David Campbell, Senior Managing Director of Capital Markets at Marcus & Millichap’s Palo Alto office.
Originally built in 1974, the property includes a 10-unit apartment building as well as two single-family homes. The apartment units comprise two one-bedroom units and eight two-bedroom units. The standalone homes consist of one two-bedroom unit and one three-bedroom unit.
The new ownership group intends to expand the property, enhancing its residential capacity in the growing Hayward area.
