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16294-16298 Foothill Blvd 8 Unit Apartment Building $3,153,825 CAD ($394,228 CAD/Unit) 5.18% Cap Rate San Leandro, CA 94578
Investment Highlights
- 100% occupied 8-unit multifamily asset priced at $281,250/unit and $303/SF
- Built 1979 on 0.47 acres; 18 surface parking spaces
- Direct access to Interstate 580, with proximity to Interstate 238 and Interstate 880
- In-place rents average $1,914/month vs. $2,495/month market rent — 30.4% upside on turnover
- Uniform unit mix: eight 928 SF two-bedroom/one-bath units with full-size washer/dryer hookups
- Near Lake Chabot Regional Park, Eden Medical Center, San Leandro Hospital, and Target
Executive Summary
16294–16298 Foothill Boulevard is an 8-unit, 100% occupied multifamily asset in Castro Valley priced at $281,250 per unit ($303/SF). In-place rents average $1,914 per month against $2,495 market rent, a 30.4% upside on turnover. The deal trades at a 5.18% in-place cap rate (12.25x GRM), with a 7.53% pro forma cap rate (9.39x GRM) once rents reach market.
The unit mix is uniform: eight 928-square-foot two-bedroom, one-bath residences, each with full-size washer/dryer hookups. Built in 1979, the property sits on 0.47 acres with 10,000 SF of gross building area and 18 surface parking spaces — 2.25 per unit.
The property is positioned in Alameda County's East Bay submarket with direct access to Interstate 580 and proximity to Interstate 238 and Interstate 880, connecting to San Leandro, Oakland, Hayward, and the broader Bay Area. Castro Valley BART is a 6-minute drive, putting San Francisco roughly an hour away by transit. Lake Chabot Regional Park, Eden Medical Center, San Leandro Hospital, and Target are all nearby.
Current net operating income is $116,510 against a pro forma NOI of $169,520 — a 45.5% increase driven by closing the gap to market rent. Effective gross income runs $174,534 in-place versus $227,544 at market.
The unit mix is uniform: eight 928-square-foot two-bedroom, one-bath residences, each with full-size washer/dryer hookups. Built in 1979, the property sits on 0.47 acres with 10,000 SF of gross building area and 18 surface parking spaces — 2.25 per unit.
The property is positioned in Alameda County's East Bay submarket with direct access to Interstate 580 and proximity to Interstate 238 and Interstate 880, connecting to San Leandro, Oakland, Hayward, and the broader Bay Area. Castro Valley BART is a 6-minute drive, putting San Francisco roughly an hour away by transit. Lake Chabot Regional Park, Eden Medical Center, San Leandro Hospital, and Target are all nearby.
Current net operating income is $116,510 against a pro forma NOI of $169,520 — a 45.5% increase driven by closing the gap to market rent. Effective gross income runs $174,534 in-place versus $227,544 at market.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,153,825 CAD | Apartment Style | Garden |
| Price Per Unit | $394,228 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Cap Rate | 5.18% | Building Size | 7,424 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.25 | No. Stories | 2 |
| No. Units | 8 | Year Built | 1979 |
| Property Type | Multifamily | Parking Ratio | 2.42/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | PD, Alameda County | ||
| Price | $3,153,825 CAD |
| Price Per Unit | $394,228 CAD |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.25 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 7,424 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 2.42/1,000 SF |
| Zoning | PD, Alameda County |
Amenities
Unit Amenities
- Washer/Dryer Hookup
- Eat-in Kitchen
- Pantry
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $3,497 CAD | 928 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 080A-0189-002-06 | Total Assessment | $1,210,908 CAD (2025) |
| Land Assessment | $267,182 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $943,726 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
080A-0189-002-06
Land Assessment
$267,182 CAD (2025)
Improvements Assessment
$943,726 CAD (2025)
Total Assessment
$1,210,908 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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16294-16298 Foothill Blvd
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