Pinza Group Closes Manon Arms in Hayward for $8.3MM

Pinza Group, Hayward, Manon Arms, East Bay, Bay Area

Pinza Group, Hayward, Manon Arms, East Bay, Bay AreaHayward, CA – The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of the Manon Arms Apartments in Hayward, CA. 27467 Manon Ave is a 36 unit apartment building. The sale price of $8,300,000 represents a 5.8% CAP Rate and 11.5 GRM. The price per door of $230,500 sets a per door record in Hayward.

Steven Pinza, Esq (a 2014 & 2015 Top Sales Broker according to CoStar), President of the Pinza Group, Inc (a 2014 & 2015 Top Sales Firm according to CoStar), represented the Buyer and Seller in the transaction which Pinza closed off market. “The Seller unsuccessfully tried to market this property with big name firms on two occasions. He had the common misconception that a big brokerage firm is better equipped to sell the building. That theory is simply untrue” stated Pinza. “I was able to do in one week, what two large companies couldn’t do in months.” concludes Pinza.

The Manon Arms boasts an amazing unit mix of 36 3bd/2bth units with a patio or backyard. Many units have been renovated with new laminate wood flooring, granite counters, new cabinets, and updated bathrooms and kitchens. There is an on site laundry room which make the property more desirable for tenants while providing additional income for an investor. Rents are well below market which allows an investor to come in and raise rents almost immediately and take advantage of the strong rental market of Hayward. Further, with three bedroom units an investor will not have to worry about common vacancy issues associated with studios or one bedroom units.

Hayward is well known for its central location, peaceful ambiance, and middle to upper class residents. The city’s business, housing, and rental market have remained stable even in the low points in recent years. Schools in Hayward are among the best in the area with an average API score in the mid 860’s. Analysts predict 94544 values will increase 8.1% next year, compared to a 7.2% increase for Hayward as a whole. Among 94544 properties, this property is valued 164.4% more than the midpoint (median) property. Foreclosures will be a factor impacting values in the next several years. In the 94544 market, the number of foreclosures waiting to be sold shrank 18.3% in the last year.

About The Pinza Group, Inc.
The Pinza Group, Inc was recently named as a 2014 & 2015 Top Real Estate Sales Brokerage by CoStar, and is the only privately held investment real estate brokerage to receive the prestigious award in 2014 & 2015. The Pinza Group is a full service real estate and property management firm located in Walnut Creek, California. Founded in 2013, The Pinza Group is a leader in investment real estate sales with over 70 apartment sales in the last 24 months. The Pinza Group is an investment real estate brokerage built on a strong foundation of integrity, dedication, and experience which allows us to provide significant value to existing and future clients. Since The Pinza Group focuses exclusively on investment real estate, all of our efforts and resources are spent researching, brokering, and underwriting commercial properties in the East Bay. The Pinza Group has devoted significant resources to build an effective list of owners, investors, and brokers in the area which has allowed us to create an innovative marketing platform allowing us to deliver incredible value to both owners and investors. The Pinza Group Property Management, Inc. currently manages over 30 investment properties throughout the East Bay. For more on property management, an estimate of value, or investments visit: www.pinzagroup.com or Info@pinzagroup.com.

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