8-Unit Multifamily
For Sale
Contact for pricing
16298 Foothill Boulevard, San Leandro, CA 94578
Uniform two-bedroom residences offer full-size washer and dryer hookups, on-site parking, and established occupancy.
Property Size7,424 SF
Lot Size0.47 Acres
Price / SF$303.07
Days on Market9
Property Features for 16298 Foothill Boulevard
General Information
Standard status
Active
Size
7,424 SF
Total Parking Spaces
18
Lot size
0.47 Acres
Property subtype
Multifamily
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$116,510
Financials
Cap Rate
5.18%
Gross Income
$174,534
Gross Rent Multiplier
12.25
Average Monthly Rent
$1,914
Units
Unit Mix
8 x 2BR/1BA 928 SF
Multifamily Units
8
Additional Details
Highway Access
Yes
Amenities
full-size washer/dryer hookups
Building Details
Year Built
1979
Buildings
2
Stories
2
Units
8
Listing Agency:
Marcus & Millichap - San Francisco
(415) 625-2149
Listed By:
Joe Owens · License #01707768
Source:
Crexi
Added: Jul 29
Changed: Aug 3
Last Checked: Aug 5 at 12:57PM
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 - San Francisco
Investment Insights
Based on property information with market context.
This eight-unit multifamily property comprises uniform two-bedroom, one-bath residences measuring 928 SF each. Every unit includes full-size washer and dryer hookups, and the property provides 18 surface parking spaces. Built in 1979, the asset occupies 0.47 acres and is currently 100% occupied.
The property has direct access to Interstate 580, with proximity to Interstate 238 and Interstate 880 for regional connectivity. Castro Valley BART is approximately a 6-minute drive, while Lake Chabot Regional Park, Eden Medical Center, San Leandro Hospital, and Target are nearby. The offering reflects a 5.18% in-place cap rate and a 7.53% pro forma cap rate, with 12.25x and 9.39x GRMs, respectively.
The property has direct access to Interstate 580, with proximity to Interstate 238 and Interstate 880 for regional connectivity. Castro Valley BART is approximately a 6-minute drive, while Lake Chabot Regional Park, Eden Medical Center, San Leandro Hospital, and Target are nearby. The offering reflects a 5.18% in-place cap rate and a 7.53% pro forma cap rate, with 12.25x and 9.39x GRMs, respectively.
Key Highlights
- Eight 928 SF two‑bedroom, one‑bath residences
- 100% occupied multifamily property
- Full‑size washer and 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 | $207.6k | $27.96 |
| − Vacancy | −$12.0k | −$1.62 |
| EGI | $195.5k | $26.34 |
| − OpEx | −$88.0k | −$11.85 |
| NOI | $107.5k | $14.49 |
7,424 SF · lease $27.96/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.34M – $1.79M
NOI $107,545 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$33.85M
$29.61M – $39.49M
NOI $2,369,195 @ 7.0% cap · market cap 105.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
642
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Uniform two-bedroom residences offer full-size washer and dryer hookups, on-site parking, and established occupancy.
Where is this apartment building located?
The property is located at 16298 Foothill Boulevard San Leandro, 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 SF two‑bedroom, one‑bath residences; 100% occupied multifamily property; Full‑size washer and dryer hookups in every unit
