16298 Foothill Blvd, Castro Valley, CA 94578
List Price: $2.25M
Listing Status: Active
0Days on Market: 7
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1978
Lot Size: 20,363 sq ft
Annual Property Tax: $32,024
MLS Number: 41143340
About This Property
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.
Listing provided by: Joseph Owens DRE #01707768 510-379-1200 joe.owens@marcusmillichap.com, Marcus & Millichap
Source: CRMLS, MLS #: 41143340
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