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8/12/21
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In recent multifamily activity out of the East Bay, a private investor purchased two properties totaling 96 units in separate transactions. The deals were in Hayward and Castro Valley, and had a combined price tag of $30.8 mil.
One of the acquisitions was Townhomes of Casa De Luna, a 48-unit community located at 22189 S. Garden Ave in Hayward. The property was sold by Brian Murphy of Dimond Property LP for $15.85 mil ($330.2k/unit). Casa De Luna offers residents close proximity to highways, interstates, and mass transit for a direct commute to nearby employment hubs such as San Francisco, San Jose, and Union City.
In the other deal, the same buyer paid $15 mil for Shadow Creek Apartments, a 48-unit ($312.5k/unit) apartment community located at 22120 Center St in Castro Valley. The property was sold by Adeline Machado.
Shadow Creek Apartments offers direct access to the San Mateo Bridge, Dry Creek Pioneer Regional Park, and various nearby parks and hiking areas. Renters also enjoy close proximity to education institutions, with California State University, Easy Bay only a ten-minute drive away.
Adam Levin of Levin Johnston repped the seller in the Casa De Luna deal, while Levin, along with Levin Johnston colleagues Robert Johnston and Chris Saiz, represented the seller in the Shadow Creek transaction.
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