Free from local rent ordinances! 2536 Grove Way is a five-unit multifamily offering in unincorporated Alameda County: a single-family home fronting Grove Way plus a detached two-story four-unit apartment building behind it, giving investors a diversified, low-maintenance unit mix without the operational complexity of a larger asset. Unit interiors show real pride of ownership. Each apartment includes its own in-unit washer/dryer, a private yard or deck, and an assigned carport, with some kitchens and bathrooms already updated for modern living and lower near-term turnover costs. The single-family home at 2534 Grove Way adds its own attached garage, forced-air heat, and a distinct floor plan that broadens tenant appeal. Main electrical service at both structures has been upgraded to 100-amp panels, and roofs are reported at roughly 10-15 years old key capital items already addressed. Combined, the five units produce $13,423/month, or $161,076 annualized, in gross rent. Location is a strength: just off Castro Valley Boulevard, with easy access to Lake Chabot, Don Castro Regional Recreation Area, Castro Valley BART, and I-580. DO NOT DISTURB TENANTS
South, located between Lake Chabot Regional Park and the Castro Valley BART station, is a residential and hillside Castro Valley neighborhood with winding streets and bay-facing views. The neighborhood’s character concentrates around the Castro Valley Boulevard and Redwood Road junction, where independent cafes, taquerias, and small storefronts set a steady, local rhythm. Architectural lines lean mid-century ranches and split-level homes, with pockets of newer infill along busier corridors. Lake Chabot’s trails and shoreline pull daily routines outdoors, while the BART station anchors commutes toward Oakland and San Francisco. Community touchstones include the Chabot Cinema, the Castro Valley Marketplace, and the Castro Valley Arts Foundation’s gallery and events. Terrain shifts from flatter blocks near the boulevard to steeper, tree-lined slopes toward the park.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Some units have updated bathrooms and updated kitchens
Refrigerator included
Bedrooms
Two 2-bedroom units (Unit 1: 2 bedrooms; Unit 2: 2 bedrooms)
Kitchen
Updated kitchens in some units
Flooring
Laminate flooring
Heating & cooling
Wall furnace heating
Ceiling fans for cooling
Exterior features
Composition roof
Home design
Multi-unit property (5 total units)
Built in 1972
Zoning: R-S-
Parking
Attached assigned parking
Total of 6 parking spaces
Construction
Composition roof
Year built: 1972
Utilities
Public sewer
Financial info
Cap rate: 6.06
Electricity and solar
View estimated energy costs and solar savings for this home
bridgeMLS, Bay East AOR, or Contra Costa AOR #ML82057220
Sep 9, 2026
Pending
—
Aug 10, 2026
Listed
$1,795,000
$314/sq ft
Public Records
Feb 7, 2017
Sold
$1,415,000
$247/sq ft
bridgeMLS, Bay East AOR, or Contra Costa AOR #40759387
Jan 23, 2017
Sold
$1,400,000
$245/sq ft
Oct 1, 2016
Listed
$1,485,000
$260/sq ft
SINGLE FAMILY HOME PLUS 4 UNITS IN REAR LARGE APROX 1050 SQ/FT UNITS WITH 2BED 2 BATHS,LAUNDRY HOOKUPS ONE BLOCK TO REDWOOD RD AND TRADER JOES APROX SIX BLOCKS TO BART STATION AND 580 FREEWAY ACCESSWRITE OFFER SUBJECT TO INSPECTION
Public Records
Jan 13, 1999
Sold
$525,000
$92/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$23,418 (+2.7%)
$501,800 + $1,170,866
$1,672,666
2024
$22,794 (+2.1%)
$491,961 + $1,147,909
$1,639,870
2023
$22,332 (+2.6%)
$482,317 + $1,125,407
$1,607,724
2022
$21,771 (+1.3%)
$463,589 + $1,081,709
$1,545,298
2021
$21,492 (+1.3%)
$463,589 + $1,081,709
$1,545,298
2020
$21,207 (−0.7%)
$454,501 + $1,060,503
$1,515,004
2019
$21,358 (+6.4%)
$449,842 + $1,049,632
$1,499,474
2018
$20,070 (+78.1%)
$441,025 + $1,029,059
$1,470,084
2017
$11,271 (+5.5%)
$213,418 + $495,725
$709,143
2016
$10,687 (+3.6%)
$213,418 + $495,725
$709,143
2015
$10,318 (+6.2%)
$209,234 + $486,007
$695,241
2014
$9,716 (+2.2%)
$202,055 + $469,330
$671,385
2013
$9,507 (+2.6%)
$202,055 + $469,330
$671,385
2012
$9,263 (+1.3%)
$201,143 + $467,213
$668,356
2011
$9,144 (+2.2%)
$197,199 + $458,052
$655,251
2010
$8,945 (−0.7%)
$193,333 + $449,072
$642,405
2009
$9,012 (+3.5%)
$191,889 + $445,717
$637,606
2008
$8,704
$192,346 + $446,778
$639,124
Public record
Public record
Zoning
Beds
10
Baths
7
Stories
2
Lot width
—
Lot depth
—
Lot size
6,012 Sq. Ft.
Year renovated
1972
Finished Sq. Ft.
5,718
Unfinished Sq. Ft.
—
Total Sq. Ft.
5,718
Year built
1972
Style
Multi-Family (5+ Unit)
County
Alameda County
APN
416 004004002
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 24, 2026.
RMF
Residential Medium Density Family District - Castro Valley
Residential medium density family districts, hereinafter designated as RMF, are established to support medium density multi-family residential development in Castro Valley. The RMF district implements and is consistent with the residential medium density multifamily land use classification of the Castro Valley General Plan.
Permitted uses
Include but are not limited to:
Agriculture-Other
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Agriculture-Cropland
Agriculture-Grove / orchard / vineyard
Local insights from Redfin agents
Castro Valley's fall market offers great buyer leverage. While median prices hold steady around $1.2M, increased inventory gives you room to negotiate on homes needing updates. Turnkey properties still move fast in under 15 days, so act quickly with...