Eight-Unit Apartment
New
For Sale
$2,250,000
16298 Foothill Blvd, Castro Valley, CA 94578
Fully occupied residences feature uniform two-bedroom layouts, washer/dryer hookups, and surface parking.
Property Size10,000 SF
Lot Size0.47 Acres
Price / SF$225
Days on Market5
Property Features for 16298 Foothill Blvd
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
18
Lot size
0.47 Acres
Property subtype
Multi Family
Occupancy
100%
Financials
Cap Rate
5.18%
Gross Rent Multiplier
12.25
Average Monthly Rent
$1,914
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Parking per Unit
2.25
Additional Details
Highway Access
Yes
Amenities
washer/dryer hookups
Building Details
Building Size
10,000 SF
Year Built
1978
Listing Agency:
Marcus & Millichap
(925) 808-9098
Listed By:
Joseph Owens
(925) 808-9098
Source:
Realestatenovo
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 2 at 5:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap
Investment Insights
Based on property information with market context.
This apartment property contains eight uniform residences, each offering two bedrooms, one bathroom, and 928 square feet. Full-size washer/dryer hookups serve every unit, while the site provides 18 surface parking spaces across 0.47 acres. The 10,000-square-foot gross building area supports a straightforward multifamily configuration, and occupancy is currently 100%.
The property has direct access to Interstate 580, with Interstate 238 and Interstate 880 nearby for connections throughout the East Bay and broader Bay Area. Castro Valley BART is approximately a 6-minute drive, while Lake Chabot Regional Park, Eden Medical Center, San Leandro Hospital, and Target are also in the surrounding area.
Current operations reflect a 5.18% in-place cap rate and 12.25x GRM. The stated pro forma metrics are a 7.53% cap rate and 9.39x GRM.
The property has direct access to Interstate 580, with Interstate 238 and Interstate 880 nearby for connections throughout the East Bay and broader Bay Area. Castro Valley BART is approximately a 6-minute drive, while Lake Chabot Regional Park, Eden Medical Center, San Leandro Hospital, and Target are also in the surrounding area.
Current operations reflect a 5.18% in-place cap rate and 12.25x GRM. The stated pro forma metrics are a 7.53% cap rate and 9.39x GRM.
Key Highlights
- Eight 928‑square‑foot two‑bedroom, one‑bath residences
- 100% occupied multifamily property
- Full‑size washer/dryer hookups in every unit
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $279.6k | $27.96 |
| − Vacancy | −$16.2k | −$1.62 |
| EGI | $263.4k | $26.34 |
| − OpEx | −$118.5k | −$11.85 |
| NOI | $144.9k | $14.49 |
10,000 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.07M
$1.81M – $2.41M
NOI $144,861 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$45.59M
$39.89M – $53.19M
NOI $3,191,265 @ 7.0% cap · market cap 141.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,150
Businesses Nearby
Explore this area
Business Placement
Demographics for 94578, CA
40,957
Population
14,819
Households
2.8
Avg Household Size
37
Median Age
25%
College-Educated
82%
High-School Grad
4.6 sq mi
ZIP Area
8,904
Density / Sq Mi
$89,149
Median Household Income
$47,672
Median Earnings
$2,077
Median Rent
$793,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied residences feature uniform two-bedroom layouts, washer/dryer hookups, and surface parking.
Where is this apartment building located?
The property is located at 16298 Foothill Blvd Castro Valley, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Eight 928‑square‑foot two‑bedroom, one‑bath residences; 100% occupied multifamily property; Full‑size washer/dryer hookups in every unit
