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33270406
33270405

16424 Foothill Blvd, Castro Valley, CA 94578

RJ
CA 01853816, CA CA 01853816
Marcus & Millichap - Palo Alto
AL
01462752
Listed by Marcus & Millichap - Palo Alto
$8,395,000
2 days on market
Updated 1 day ago

Foothill Terrace, Castro Valley

Details
APN 80A-202-10-6
Property Type Multifamily
Sub Type Apartment Building
Square Footage 21,526
Units 25
Cap Rate 5.86%
NOI $492,008
Occupancy 92%
Tenancy Multi
Pro-Forma Cap Rate 6.57%
Pro-Forma NOI $551,253
Price per SqFt $390
Year Built 1988
Buildings 1
Acreage 1.190
Zoning RS-D20
Investment Type Stabilized

Multifamily | 5.86% CAP | 25 Units

Marketing description

Foothill Terrace is an exceptional 25-unit apartment community located in the thriving city of Castro Valley, California.

Situated on a parcel of land totaling 1.19 acres, the subject property was originally constructed in 1988 and has a gross building area of approximately 21,526 square feet, offering its tenants 100% beautifully designed two-bedroom floor plans.

Located in the thriving Castro Valley area of the East Bay, the subject property's convenient location is a commuter's dream, close enough to the exciting hustle and bustle of the Bay Area, and just far enough from it to relax in tranquility. The city is comfortably situated between three primary employment markets: Oakland, San Francisco, and San Jose. With its short commute times and great schools, Castro Valley is one of the most in demand locations for young families to put down roots in the East Bay. Shopping, dining and entertainment options are abundant within minutes of the subject property. Easy access to the San Mateo-Hayward Bridge and the Dumbarton Bridge provides a quick commute to the world class Silicon Valley where tech employers, such as Google, Facebook, Apple, Salesforce, Visa, Sony as well as many others reside within close proximity to the subject property.

The investment appeal of this asset is driven by Castro Valley's strong employment fundamentals and low vacancy levels. With a world-class location in the heart of the East Bay, Foothill Terrace presents an attractive choice for investors due to its close proximity to major employers, transportation corridors, shopping, dining and entertainment options.

Investment highlights

  • Exceptional East Bay Investment Opportunity - Investors have the opportunity to acquire a well-situated 25 unit apartment community in the thriving city of Castro Valley, CA.
  • Desirable Unit Mix - Foothill Terrace offers tenants 100% beautifully designed two-bedroom floor plans.
  • Prime Castro Valley Location - The subject property is within close proximity to Castro Village Shopping Center, featuring various recognizable retailers, restaurants, and entertainment options including Safeway, Ross, Walgreens, Chipotle, Chase Bank, Lucky, Castro Valley Farmers Market, and many others.
  • Excellent Transportation Corridors - Foothill Terrace offers convenient access to Interstate 580 and Castro Valley BART to reach the the three primary employment markets including Oakland, San Francisco, and San Jose.
  • Strong Employment Base - The subject property is within close proximity to many of the nation's top employers, including Google, Facebook, Apple, Salesforce, Visa, Sony in addition to several others.

Listing Contacts

RJ
CA 01853816, CA CA 01853816
Marcus & Millichap - Palo Alto
AL
01462752
Listed by Marcus & Millichap - Palo Alto

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$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$492,008.00
$41,000.67/mo

Valuation Metrics

0
DSCR
5.86%
Cap Rate
5.86%
ROI

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Additional Information

Name
Tony Solomon
License
CA 1238010
Title
Broker of Record
Name
Robert Johnston
License
01853816
Brokerage
Marcus and Millichap
Brokerage Phone
6503911744
Brokerage Address
2626 Hanover Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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