Occupied Apartment Building with
For Sale
$2,250,000
16298 Foothill Blvd Castro, San Leandro, CA 94578
Eight uniform residences offer washer/dryer hookups, surface parking, and convenient access to regional transportation and employment centers.
Property Size10,000 SF
Lot Size0.47 Acres
Price / SF$225
Days on Market91
Property Features for 16298 Foothill Blvd Castro
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
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Parking per Unit
2.25
Amenities
washer/dryer hookups
Forced Air
Gas Water Heater
Master Electric Meter, Master Gas Meter, Shingle
Building Details
Year Built
1978
Listing Agency:
Marcus & Millichap
Listed By:
Joseph Owens
(925) 808-9098
Source:
Kw
Added: Jul 30
Changed: Oct 27
Last Checked: Oct 26 at 9:47PM
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
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Investment Insights
Based on property information with market context.
This occupied apartment property contains eight identical residences, each measuring 928 square feet with two bedrooms, one bathroom, and full-size washer/dryer hookups. The building provides 10,000 square feet of gross area on 0.47 acres, with 18 surface parking spaces. Interior features include forced-air heating and a gas water heater, while the property has master electric and gas meters and shingle exterior construction.
The property has direct access to Interstate 580, with connections to Interstate 238 and Interstate 880 serving San Leandro, Oakland, Hayward, and the broader Bay Area. Castro Valley BART is approximately a 6-minute drive, and nearby destinations include Lake Chabot Regional Park, Eden Medical Center, San Leandro Hospital, and Target.
The property has direct access to Interstate 580, with connections to Interstate 238 and Interstate 880 serving San Leandro, Oakland, Hayward, and the broader Bay Area. Castro Valley BART is approximately a 6-minute drive, and nearby destinations include Lake Chabot Regional Park, Eden Medical Center, San Leandro Hospital, and Target.
Key Highlights
- 8‑unit multifamily property with 100% occupancy
- Eight 928‑square‑foot residences, each with 2 bedrooms and 1 bathroom
- Full‑size washer/dryer hookups in every residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$144,861
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,897,220
$2.9M
Cap Rate 7%
$2,069,443
$2.1M
Cap Rate 9%
$1,609,567
$1.6M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$279.6K $27.96/SF
− Vacancy
−$16.2K −$1.62/SF
EGI
$263.4K $26.34/SF
− OpEx
−$118.5K −$11.85/SF
NOI
$144.9K $14.49/SF
Area
Alameda County, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,897,220
Cap Rate 7%
$2,069,443
Cap Rate 9%
$1,609,567
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.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
816
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight uniform residences offer washer/dryer hookups, surface parking, and convenient access to regional transportation and employment centers.
Where is this apartment building located?
The property is located at 16298 Foothill Blvd Castro 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: 8‑unit multifamily property with 100% occupancy; Eight 928‑square‑foot residences, each with 2 bedrooms and 1 bathroom; Full‑size washer/dryer hookups in every residence
