| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 54th | Fair |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 16424 Foothill Blvd, Castro Valley, CA, 94578, US |
| Region / Metro | Castro Valley |
| Year of Construction | 1988 |
| Units | 25 |
| Transaction Date | 2021-07-29 |
| Transaction Price | $6,875,000 |
| Buyer | ABBOTT SL1 LLC |
| Seller | YOUNG VICTORIA |
16424 Foothill Blvd Castro Valley Multifamily Investment
Neighborhood occupancy is strong and ownership costs are high, pointing to durable renter demand in this inner suburb of the Oakland–Berkeley–Livermore metro, according to WDSuite s commercial real estate analysis.
This inner-suburb location in Castro Valley offers daily convenience with grocery access and parks performing in the top quartile nationally, while restaurants are competitive among Oakland–Berkeley–Livermore neighborhoods. Caf e9 and pharmacy density is thinner inside the neighborhood, so residents often rely on nearby corridors for those services. These dynamics support livability without overpaying for on-block retail premiums.
For investors, the neighborhood shows stability: the neighborhood occupancy rate is 96.9% (top quartile nationally and above the metro median among 469 neighborhoods), indicating consistent leasing performance. Median contract rents in the neighborhood are elevated with healthy multi‑year growth, while a rent‑to‑income ratio around 29% (low nationally) suggests manageable affordability pressure that can aid lease retention and reduce turnover risk, based on CRE market data from WDSuite.
The neighborhood renter concentration is 43.2% of housing units renter‑occupied, providing a deep tenant base for multifamily while remaining balanced with ownership stock. Home values in the neighborhood rank near the top nationally, reinforcing reliance on rental housing and supporting pricing power during renewals rather than relying solely on new lease trade‑outs.
Demographic statistics aggregated within a 3‑mile radius indicate modest population growth over the last five years and forecasts calling for more households by 2028 alongside slightly smaller household sizes. Together, that points to a broader renter pool and support for occupancy stability even as product competes on finishes, parking, and access.
The asset s 1988 vintage is somewhat newer than the neighborhood s average construction year. That positioning offers relative competitiveness versus older stock, though investors should plan for targeted modernization of common areas and systems to sustain rent attainment.
Safety indicators for the neighborhood are mixed and should be underwritten thoughtfully. Relative to U.S. neighborhoods, overall crime sits below the national median (38th percentile), and within the Oakland–Berkeley–Livermore metro it performs below the metro average (ranked in the lower half among 469 neighborhoods). Violent‑offense comparisons place the area in a low national percentile, signaling elevated exposure versus many U.S. neighborhoods.
Recent momentum is more constructive: property‑offense estimates improved year over year, and violent‑offense trends also show incremental declines. For investors, the takeaway is to budget for security-conscious operations (lighting, access control, resident engagement) while noting that recent trendlines have moved in a favorable direction.
Proximity to East Bay and Peninsula employers supports commuter convenience and multifamily demand, with nearby corporate offices spanning logistics, industrial equipment, energy, consumer goods, retail, biotech, payments, and software.
- Ryder — logistics (3.4 miles)
- Caterpillar — industrial equipment offices (5.0 miles)
- Chevron — energy (9.0 miles) — HQ
- The Clorox Company — consumer goods offices (11.0 miles)
- Clorox — consumer goods (11.5 miles) — HQ
16424 Foothill Blvd is a 25‑unit asset built in 1988, positioned in a high‑cost ownership market where elevated home values sustain reliance on rental housing. Neighborhood occupancy is strong and above the metro median, and the renter‑occupied share indicates a deep tenant base without overconcentration. According to CRE market data from WDSuite, rent levels remain high for the metro yet appear manageable relative to incomes, supporting retention strategies over purely aggressive trade‑outs.
Within a 3‑mile radius, population has grown modestly and households are projected to increase by 2028 as average household size edges down, pointing to a broader renter pool. The vintage is newer than the neighborhood average, offering competitive positioning versus older stock, though targeted capex for building systems and common‑area upgrades can unlock value and sustain pricing power.
- High-cost ownership market reinforces multifamily demand and lease retention.
- Neighborhood occupancy is top‑quartile nationally and above the metro median, supporting stable cash flow.
- 1988 vintage offers competitive positioning with clear value‑add potential via modernization.
- Diverse regional employers within commuting range underpin demand across renter cohorts.
- Risks: below‑average safety metrics in parts of the metro and amenity gaps (pharmacy/caf e9) warrant active management and resident‑experience investments.