Press Releases

Two Apartment Complexes Located in Hayward and San Leandro, CA

March 12, 2024

SAN FRANCISCO –Transwestern Real Estate Services (TRS) announces that it brokered the sale of a two-complex multifamily portfolio consisting of Vermont Hills Apartments in Hayward, California, and the Brightmoor Apartments in San Leandro, California, for $29,755,500. The buyer and seller of the portfolio were not disclosed.

Shivu Srinivasan, Senior Director at Transwestern, represented both parties in the Brightmoor Apartments transaction. In the Vermont Hills Apartments transaction, Srinivasan represented the buyer, while the seller was represented by Matt Flaherty and Ryan Rodriguez of Colliers International.

“We received a high level of interest in this multifamily portfolio, which was commensurate with the tremendous upside of these excellent assets,” said Srinivasan. We are pleased to have been able to execute a smooth sale during this challenging time in the market.”

Vermont Hills Apartments, located at 22815 Vermont St. in Hayward, sold for $19,770,500, or $309,000 per unit, with a very strong in-place cap rate of 4.3%. The complex consists of 64 two-bedroom, two-bathroom, condominium-quality units, offering spacious floor plans, balconies and covered parking.

Located at 1527 165th Ave. in San Leandro, Brightmoor Apartments sold for $9,985,000, or $238,000 per unit, with a 5.24% in-place cap rate. The complex features 21 one-bedroom and 21 two-bedroom units, with a mix of options that appeal to individuals, couples and families. The well-designed apartments feature ample space, abundant natural light and modern amenities, as well as access to the complex’s community pool.

“Both Vermont Hills and Brightmoor are located in the unincorporated sections of Hayward and San Leandro, respectively,” said Srinivasan. “Accordingly, they are not subject to any local rank control jurisdictions, which provides the new owners with an immediate path to capture rental upside.”

According to research from Transwestern, as of the close of the fourth quarter of 2023, the broader East Bay multifamily market had a vacancy rate of 5.4% and an average effective rent per unit of $2,177. In the Fairview submarket, where the Vermont Hills Apartments are located, the vacancy rate was 3.4% and the average effective rent per unit was $1,898. In the Ashland submarket, where the Brightmoor Apartments are located, the vacancy rate was 4.8% and the average effective rent per unit was $1,787.

About Transwestern Real Estate Services
Part of the Transwestern companies, Transwestern Real Estate Services (TRS) strives to add value for investors, owners and occupiers across all commercial property types. Fueled by a holistic perspective of the real estate life cycle, agility and creativity are hallmarks of our approach, while vast national resources and sound market intelligence underpin customized recommendations and property solutions.

Five dynamic, integrated companies make up the Transwestern enterprise, giving us the perspective to think broadly, deeply and creatively about commercial real estate. Clients and investors rely on us for expertise that spans institutional and opportunistic investment, development, hospitality, and brokerage and asset services. Our award-winning, collaborative culture empowers team members with resources and independence to work across boundaries in pursuit of innovative solutions, reinforcing a reputation for service excellence that translates to measurable results. Through offices nationwide and alliance partners around the globe, we positively impact the built environment and our communities while fostering a work climate that champions career vitality for all. Learn more at and @Transwestern.

Media Contact:
Dan Foley

Shivu Srinivasan

Senior Director

San Francisco, California

(415) 489-1746