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10/06/17
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Aloha Apartments, a 47.3k sf, 70-unit multifamily property in the East Bay city of Hayward, sold for $13.175 mil, or $188k/unit. The property is located at 250 W. Jackson St, near the I-880 and I-580 freeways.
Aloha Apartments features a number of desirable amenities including a pool and spacious patios. The property itself is centrally located in Hayward with a great location next to the Hayward BART station and various well-known retailers in and around the Jackson Square Shopping Center.
Shivu Srinivasan and Robert Dau with NAI Northern California represented both parties in the transaction. The deal required addressing such issues as deferred maintenance and below-market rents to negotiate a substantially higher price by demonstrating the value of the property's amenities and location.
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