37-Unit Apartment
For Sale
$11,900,000
2275 Grove Way, Castro Valley, CA 94546
Apartment community with one- and two-bedroom townhouse-style floor plans and assigned parking for residents.
Property Size35,164 SF
Lot Size1.56 Acres
Price / SF$338.41
Days on Market96
Property Features for 2275 Grove Way
General Information
Standard status
Active
Size
35,164 SF
Lot size
1.56 Acres
Additional Details
Highway Access
Yes
Multifamily Units
37
Amenities
no
yes
Wall Furnace
Composition Shingles
Public
1.56
Assigned
67954
Building Details
Year Built
1964
Listing Agency:
Coldwell Banker Realty
Listed By:
Ana Vasquez · License #01374749
(510) 828-6511
Source:
Teamvasquez.idxbroker
Added: Jul 29
Changed: Oct 25
Last Checked: Nov 1 at 2:18AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Terra Castro Valley is a 37-unit apartment community on a 1.56-acre parcel. Built in 1964, the property contains approximately 35,164 square feet of building area and offers both one-bedroom and two-bedroom townhouse-style floor plans.
Select units have undergone extensive capital improvements, including updated kitchens with granite countertops and stainless steel appliances, hardwood-style flooring, and renovated bathrooms. The property is equipped with wall furnace heating, and the exterior features composition shingle roofing. Water service is public, and parking is provided as assigned.
Centrally located in the East Bay between Oakland, San Francisco, and San Jose, the community offers commuter-friendly access to the San MateoHayward and Dumbarton Bridges for trips to major tech employers in Santa Clara County. No association is listed.
Select units have undergone extensive capital improvements, including updated kitchens with granite countertops and stainless steel appliances, hardwood-style flooring, and renovated bathrooms. The property is equipped with wall furnace heating, and the exterior features composition shingle roofing. Water service is public, and parking is provided as assigned.
Centrally located in the East Bay between Oakland, San Francisco, and San Jose, the community offers commuter-friendly access to the San MateoHayward and Dumbarton Bridges for trips to major tech employers in Santa Clara County. No association is listed.
Key Highlights
- 37‑unit apartment community on a 1.56‑acre parcel
- Built in 1964 with approximately 35,164 SF of building area
- One‑bedroom and two‑bedroom townhouse‑style floor plans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$509,388
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$10,187,760
$10.2M
Cap Rate 7%
$7,276,971
$7.3M
Cap Rate 9%
$5,659,867
$5.7M
Market Conditions
NOI Build-Up for 35,164 SF
Gross rent
$983.2K $27.96/SF
− Vacancy
−$57.0K −$1.62/SF
EGI
$926.2K $26.34/SF
− OpEx
−$416.8K −$11.85/SF
NOI
$509.4K $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%
$10,187,760
Cap Rate 7%
$7,276,971
Cap Rate 9%
$5,659,867
Alternative Uses
Best Use
Apartment 5plus
$7.28M
$6.37M – $8.49M
NOI $509,388 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$160.31M
$140.27M – $187.03M
NOI $11,221,764 @ 7.0% cap · market cap 94.30%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
37
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
993
Businesses Nearby
Explore this area
Business Placement
Demographics for 94546, CA
46,687
Population
16,398
Households
2.8
Avg Household Size
40
Median Age
41%
College-Educated
90%
High-School Grad
16.0 sq mi
ZIP Area
2,918
Density / Sq Mi
$125,780
Median Household Income
$66,737
Median Earnings
$2,506
Median Rent
$976,300
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 - Apartment community with one- and two-bedroom townhouse-style floor plans and assigned parking for residents.
Where is this apartment building located?
The property is located at 2275 Grove Way Castro Valley, CA.
What is the asking price?
The asking price for this property is $11,900,000.
What are key features of this property?
This property features: 37‑unit apartment community on a 1.56‑acre parcel; Built in 1964 with approximately 35,164 SF of building area; One‑bedroom and two‑bedroom townhouse‑style floor plans
