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Listed by Joseph Owens, DRE #01707768 • Marcus & Millichap
$ 2,250,000
Est. payment /mo
New
16298 Foothill Blvd Castro Valley, CA 94578
2 Beds
1 Bath
10,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 10,000 sqft
Price per Sqft $225
MLS Listing ID EB41143340
Bedrooms 2
Year Built 1978
Lot Size 0.467 Acres
Property Sub-Type Five or More Units
Source Bridge MLS
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.
Location
State CA
County Alameda
Area Castro Valley
Interior
Heating Forced Air
Cooling None
Flooring Vinyl, Carpet - Wall to Wall
Laundry Laundry Area - In Unit, Hookup - Washer/Dryer
Exterior
Exterior Feature Stucco, Wood Frame
Parking Features Parking Area
Garage Spaces 18.0
Roof Type Composition
Building
Lot Description Regular
Water Heater - Gas
Others
Tax ID 80A-189-2-6
Special Listing Condition New, Not Applicable
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