204 Sunset Boulevard presents a rare opportunity to acquire a true pride-of-ownership, two-story, 5-unit multifamily asset in unincorporated Hayward not bound by rent control. The building features an exceptionally diverse, high-demand unit mix consisting of (1) 4-bedroom, 2.5-bathroom single-family home (1) 3-bedroom, 2-bathroom unit (1) 3-bedroom, 1-bathroom unit, and (2) 2-bedroom, 1-bathroom units. Many improvements have been done including a brand new upgraded sewer lateral. termite remediation and new roof. Select units have been upgraded to include updated bathrooms, new countertops, modern faucets, fresh flooring, new ceiling fans, and upgraded light fixtures. This provides immediate, rent-ready appeal while leaving substantial, proven upside available through continued unit-by-unit modernization. Additionally, a utility bill-back program is possible to further improve income by controlling ownership expenses, mitigating utility risk, and protecting long-term operating margins. The property is located near Cherryland, an unincorporated community known for its quiet residential streets, lush parks, and rich agricultural heritage.