Two East Bay Assets Change Hands

Hayward Heights. Image courtesy of Levin Johnston

Levin Johnston, a division of Marcus & Millichap, has arranged the sale of Dixon Landing Apartments and Hayward Heights, two multifamily communities in Hayward, Calif. The two properties totaling 86 units were acquired by two private investors for $23.6 million.

Completed in 1961, Hayward Heights encompasses 41 units. Levin Johnston represented both the seller and the buyer in the $12 million transaction. The community offers a swimming pool, laundry facilities and parking spaces. Approximately $1.2 million in capital improvements were used to upgrade apartment interiors, with improvements such as new bathrooms and kitchens, windows and hardwood flooring.

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Hayward Heights is located at 23972 Second St. The property is near routes 92 and 238, which provide easy access to Interstate 580 and downtown Oakland. California State University East Bay, Don Castro Regional Recreation Area, Hayward Japanese Gardens and Eden Medical Center are within 3 miles of the community.

Dixon Landing Apartments traded for $11.6 million. The 1988-completed property encompasses 45 units with patios and balconies. Common-area amenities include parking and laundry facilities. Dixon Landing Apartments is located at 29371 Dixon St., near Route 238 and Interstate 880. There are many dining options, entertainment venues and retail centers in the property’s proximity, including Southland Mall. Green areas such as Garin Regional Park and Dry Creek Pioneer Regional Park are close and Dixon Landing is within walking distance of the South Hayward BART station.

Strategically located in the East Bay

Levin Johnston Executive Managing Director Adam Levin said in prepared remarks that the two communities are strategically located along the East Bay.

Levin mentioned that Hayward is the sixth-largest town in the Bay Area and the home of major employers such as University of East Bay, Tesla, Chevron and Kaiser.