Location: Hayward, CA
Purchase Pice & Date: $18.75mn / May 2019
Date Built: 1988
Lakeview Land Partners, an Oakland based multifamily housing investment company, has purchased The “Mission Bay Condominiums,” a 52-unit townhouse style apartment community in Hayward, California. South Hayward is a rapidly expanding commuter neighborhood, bustling with residential development, retail transformation, and transit oriented housing. Mission Bay’s proximity to the South Hayward BART station and a short distance from Cal State East Bay enhance the value and opportunity for this property. The property was constructed in 1988 and consists of large one and two-bedroom townhouse style apartments. The units were designed with condominium quality amenities featuring dishwashers, wood-burning fireplaces, in-unit washer/dryer, forced air heating, private patios & balconies and dual glazed windows. Each unit has an attached private garage, and many have covered parking for an additional vehicle. The common areas include a well kept pool and spa with a clubhouse. The property is accessed via gated entry on both Dixon Street and Mission Boulevard and is equipped with a on site leasing office.
Lakeview Land Partners has plans for a full remodel of the building’s interior common areas, and many apartment units. “We are thrilled to be buying this beautiful property in South Hayward and the great neighborhoods surrounding it. The property location and building architecture will continually draw students and professionals as tenants, and we plan to improve on what is already there” stated managing partner Joel Kelly.
Mission Bay will be managed by Lakeview Land Partners, LLC who will be responsible for all day-to-day operations of the property. Bay Apartment Advisors will be responsible for all property management functions including maintenance, leasing and accounting.