8
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Listed by Joseph Owens • Marcus & Millichap
$2,250,000
Est. payment /mo
10,000 SqFt
New
16298 Foothill Blvd Castro Valley, CA 94578
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Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 10,000 sqft
Price per Sqft $225
Subdivision Fairmont Terrace
MLS Listing ID 41143340
HOA Y/N No
Year Built 1978
Lot Size 0.467 Acres
Property Sub-Type 5 or More Units
Source Bridge AOR
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
Interior
Heating Forced Air
Cooling None
Flooring Vinyl, Carpet
Fireplace No
Laundry In Unit, Washer/Dryer Hookups
Building
Lot Description Cul-De-Sac, Rectangular Lot
Water Public
Others
Special Listing Condition Standard
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