25-Unit Apartment
For Sale
$8,395,000
16424 Foothill BLVD, Castro Valley, CA 94578
Built in 1988, this 25-unit apartment property features two-bedroom floor plans within a single multifamily building.
Property Size21,526 SF
Lot Size1.19 Acres
Price / SF$389.99
Days on Market142
Property Features for 16424 Foothill BLVD
General Information
Standard status
Active
Size
21,526 SF
Lot size
1.19 Acres
Property subtype
FiveOrMoreUnits
Additional Details
Multifamily Units
25
Building Details
Building Size
21,526 SF
Year Built
1988
Listing Agency:
Marcus & Millichap
Listed By:
Adam S. Levin · License #01462752
(650) 492-0934
Source:
Johnpaye
Added: Jun 2
Changed: Oct 12
Last Checked: Oct 21 at 5:47AM
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.
Foothill Terrace is a 25-unit apartment community originally constructed in 1988. The property provides residents with 100% two-bedroom floor plans, housed within a gross building area of approximately 21,526 square feet.
Located at 16424 Foothill Blvd in Castro Valley, the community is described as having convenient access to major East Bay employment markets and Bay Area bridges, supporting commuter travel. The offering notes proximity to shopping, dining, and entertainment options within minutes.
As an income-producing multifamily asset, Foothill Terrace is positioned for investors seeking a stabilized rental profile, with the remarks citing strong local employment fundamentals and low vacancy levels.
Located at 16424 Foothill Blvd in Castro Valley, the community is described as having convenient access to major East Bay employment markets and Bay Area bridges, supporting commuter travel. The offering notes proximity to shopping, dining, and entertainment options within minutes.
As an income-producing multifamily asset, Foothill Terrace is positioned for investors seeking a stabilized rental profile, with the remarks citing strong local employment fundamentals and low vacancy levels.
Key Highlights
- 25‑unit apartment community built in 1988 within a single multifamily building
- Approximately 21,526 sq ft gross building area on a 1.19‑acre parcel
- 100% of units are two‑bedroom floor plans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$311,827
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,236,540
$6.2M
Cap Rate 7%
$4,454,671
$4.5M
Cap Rate 9%
$3,464,744
$3.5M
Market Conditions
NOI Build-Up for 21,526 SF
Gross rent
$601.9K $27.96/SF
− Vacancy
−$34.9K −$1.62/SF
EGI
$567.0K $26.34/SF
− OpEx
−$255.1K −$11.85/SF
NOI
$311.8K $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%
$6,236,540
Cap Rate 7%
$4,454,671
Cap Rate 9%
$3,464,744
Alternative Uses
Best Use
Apartment 5plus
$4.45M
$3.90M – $5.20M
NOI $311,827 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$98.14M
$85.87M – $114.49M
NOI $6,869,517 @ 7.0% cap · market cap 81.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
25
Residential units
Location Intelligence
Trade Area within ½ mile
602
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1988, this 25-unit apartment property features two-bedroom floor plans within a single multifamily building.
Where is this apartment building located?
The property is located at 16424 Foothill BLVD Castro Valley, CA.
What is the asking price?
The asking price for this property is $8,395,000.
What are key features of this property?
This property features: 25‑unit apartment community built in 1988 within a single multifamily building; Approximately 21,526 sq ft gross building area on a 1.19‑acre parcel; 100% of units are two‑bedroom floor plans
