| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 54th | Fair |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16376 Foothill Blvd, Castro Valley, CA, 94578, US |
| Region / Metro | Castro Valley |
| Year of Construction | 1987 |
| Units | 20 |
| Transaction Date | 2025-01-13 |
| Transaction Price | $5,600,000 |
| Buyer | SETLUR RAJASHRI |
| Seller | FROSA CHRISTOPHER |
16376 Foothill Blvd Castro Valley Multifamily Investment
Neighborhood occupancy is solid with a meaningful share of renter-occupied housing, supporting steady demand for a 20‑unit asset, according to WDSuite’s CRE market data. High ownership costs in Alameda County further sustain renter reliance, aiding retention and pricing discipline.
Positioned in Castro Valley’s inner-suburban fabric, the property benefits from neighborhood fundamentals that have supported stable multifamily performance. Neighborhood occupancy trends sit above the metro median among 469 Oakland–Berkeley–Livermore neighborhoods, and renter-occupied housing comprises a sizable share of units — both indicators of depth for the tenant base rather than property-level guarantees.
Daily convenience is a relative strength: grocery access and park availability rank in the top quartile nationally, while restaurants are above national averages. Café density and pharmacies are more limited nearby, which may reduce some walk-to options but doesn’t materially detract from day-to-day livability given broader retail coverage.
For investors, the ownership landscape matters. Home values are elevated for the neighborhood versus national norms, which tends to reinforce sustained rental demand and supports lease retention for well-managed properties. Neighborhood NOI per unit is competitive — top quartile among 469 metro neighborhoods — signaling room for disciplined expense management and revenue capture at the submarket level.
Within a 3‑mile radius, recent population growth has been modest, with projections showing additional increases in both population and households over the next five years. Rising incomes and forecast rent growth point to a larger renter pool and potential pricing power for quality units, though operators should monitor affordability pressure to manage renewal risk.
Built in 1987, the asset is newer than the area’s average construction vintage, which can enhance leasing competitiveness versus older stock. Investors should still plan for modernization of aging systems and selective interior updates to maximize rent positioning.
Safety metrics for the neighborhood track below national averages and are below the metro average among 469 Oakland–Berkeley–Livermore neighborhoods. That said, recent year-over-year trends indicate declining property offenses and slight improvement in violent offense rates, suggesting conditions have been moving in a better direction. These are area-level indicators and not property-specific; investors should incorporate on-site security practices and tenant screening into underwriting.
A diversified employment base within commuting range supports renter demand and lease stability, with proximity to logistics, industrial equipment, energy, consumer products, and retail headquarters.
- Ryder — logistics (3.4 miles)
- Caterpillar — heavy equipment offices (5.0 miles)
- Chevron — energy (9.0 miles) — HQ
- The Clorox Company — consumer products (11.0 miles)
- Ross Stores — off-price retail (11.9 miles) — HQ
16376 Foothill Blvd offers a 20‑unit, 1987‑vintage asset in an inner-suburban location where neighborhood occupancy is above the metro median and renter concentration is meaningful. Elevated ownership costs in Alameda County help sustain multifamily demand, while grocery and park access compare favorably at the national level. According to CRE market data from WDSuite, the neighborhood’s income and rent trajectory, combined with competitive NOI per unit, underscores potential for stable operations with disciplined management.
The 1987 construction provides a relative edge versus older local stock, with an opportunity to capture additional revenue through selective modernization and unit refreshes. Within a 3‑mile radius, projections point to growth in population and households, expanding the tenant base. Key watch items include area safety perceptions and affordability pressure as rents rise, both manageable with prudent underwriting and active asset management.
- Above-metro neighborhood occupancy and solid renter base support demand stability
- High-cost ownership market reinforces reliance on rentals and lease retention
- 1987 vintage offers competitive positioning with value-add via targeted modernization
- 3‑mile demographic outlook indicates a larger renter pool and potential pricing power
- Risks: below-average area safety and affordability pressure require prudent operations