20353 Park Way Castro Valley, CA 94546-5330
Property profile & analytics
20353 Park Way Castro Valley, CA 94546-5330
- Apartment buildings
- 45,476 SF
- 1.88 lot acres
Property ID
US09-8503344
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 20353 Park Way
- Year built
- 1964
- Construction
- WOOD
- Lot size
- 1.88 lot acres
- Property size
- 45,476 SF
- Property type
- Apartment buildings
- APN
- 84A-181-42
- APU
- 84A18142
Description
This exceptional 52-unit apartment building presents a compelling value-add investment opportunity in Castro Valley, CA. Boasting a 6.15% cap rate and a pro-forma cap rate of 6.85%, this property offers significant upside potential. The 45,476 square foot building, constructed in 1964, sits on a 1.88-acre lot and features 81 parking spaces. The property comprises a mix of apartment and townhome-style units, with over half featuring 2-bedroom/1.5-bathroom or 3-bedroom/2.5-bathroom layouts. Units average approximately 1808 square feet. Currently, 89% of the units have been renovated, with an average in-place rent of $2,371 per unit. Six units remain to be renovated, presenting a clear path to increase NOI. The property benefits from its location adjacent to Sutter Health Eden Medical Center, a major local employer, and the absence of local rent control, subject only to AB 1482 restrictions. The current NOI is $1,014,516, with a pro-forma NOI of $1,130,742. The asking price is $16,500,000, translating to a price per unit of $317,307.69 and a price per square foot of $362.83. The property also offers potential for additional unit creation through ADU conversions. Castro Valley's strong rental market, with average rent growth of 80% over the last 10 years and an average occupancy rate of 96%, further enhances the investment appeal. This property represents a rare opportunity to acquire a substantial multifamily asset in a desirable location with considerable growth potential. The property's APN is 084A-0181-042.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $10,980,000
- 6.5%
- $10,135,000
- 7%
- $9,410,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $16,838,000
Market price range: $6.17M - $16.8M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $12,345,000 Current use
- RESTAURANT
- $22,895,000 Change: +85% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $19,320,000 Change: +56% Conversion: Difficult
- MEDICAL BUILDING
- $17,980,000 Change: +46% Conversion: Moderate
- OFFICE BUILDING
- $14,745,000 Change: +19% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $14,645,000 Change: +19% Conversion: Difficult
- RETAIL STORES
- $12,905,000 Change: +5% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $12,735,000 Change: +3% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Castro Valley
- County
- Alameda
- State
- California
- Longitude
- -122.089
- Latitude
- 37.6963
- CBSA code
- 41860
- CBSA name
- SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$195,324
$3,387,468
$10,649,488
$14,036,956
-
$0.00
$0.00
$0.00
