16298 Foothill Blvd, Castro Valley, CA 94578
- $2,250,000
Listed by Joseph Owens, (925) 808-9098 from Marcus & Millichap
(If provided) CoList: from
- List Price
- $2,250,000
- MLS#
- EB41143340
- Status
- ACTIVE
- Lot Size
- 20,363
- Listing Area
- Castro Valley
- Year Built
- 1978
Property Description
16294-16298 Foothill Boulevard is an 8-unit, 100% occupied multifamily asset in Castro Valley priced at $281,250 per unit ($303/SF). In-place rents average $1,914 per month against $2,495 market rent, a 30.4% upside on turnover. The deal trades at a 5.18% in-place cap rate (12.25x GRM), with a 7.53% pro forma cap rate (9.39x GRM) once rents reach market. The unit mix is uniform: eight 928-square-foot two-bedroom, one-bath residences, each with full-size washer/dryer hookups. Built in 1979, the property sits on 0.47 acres with 10,000 SF of gross building area and 18 surface parking spaces - 2.25 per unit. The property is positioned in Alameda County's East Bay submarket with direct access to Interstate 580 and proximity to Interstate 238 and Interstate 880, connecting to San Leandro, Oakland, Hayward, and the broader Bay Area. Castro Valley BART is a 6-minute drive, putting San Francisco roughly an hour away by transit. Lake Chabot Regional Park, Eden Medical Center, San Leandro Hospital, and Target are all nearby.
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Additional Information
- Acres
- 0.47
- Cooling System
- None
- Exterior Features
- Stucco, Wood Frame
- Floor Covering
- Vinyl, Carpet - Wall to Wall
- Garage Parking
- Parking Area
- Heating System
- Forced Air
- Laundry Facilities
- Laundry Area - In Unit, Hookup - Washer/Dryer
- Lot Description
- Regular
- Lot Size
- 20,363
- Neighborhood
- Castro Valley
- Numberof Units
- 8
- Roof
- Composition
- Unincorporated Yn
- Yes
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