The growth of CoO and Fe3O4 single crystalline layers has been studied. CoO and Fe3O4 can be grown under similar growth conditions in a small pressure window. (001) oriented CoO/Fe3O4 multilayers were grown on MgO and MgAl2O4 substrates. On MgO substrates coherent heteroepitaxial growth was observed in the multilayers resulting in high crystalline quality multilayer structures with 0.018° FWHM of the multilayer rocking curve. The mean interface roughness is 4Å as determined by low angle X-ray reflection measurements and HRTEM observations.