Walnut Terrace | 12-Unit Turnkey Apartment Community | Downtown Walnut Creek

Highlights:

• Rare Opportunity to Acquire a Downtown Walnut Creek Multifamily Investment Property
• Turnkey Property w/Nearly $510K Spent on Capital Improvements Including New Roof (2016), Seismic Retrofit (2015), & Renovations on All Apartment units
• Steps From Broadway Plaza, One of The Bay Area’s Most Visited Premier Luxury Shopping Centers
• The Average Rent in the City of Walnut Creek is Among the Highest in The East Bay while still providing Significant Discount to Other Bay Area Cities
• Excellent Historical Rent Growth which is Expected to Continue for the Foreseeable Future
• No Local Rent Control – CA Rent Control Allows for Annual Rent Increases of 5% + Local Area CPI

Description:

PROPERTY TOURS ARE AVAILABLE BY APPOINTMENT

The Cushman & Wakefield Northern California Multifamily Capital Markets Team, is pleased to offer for sale Walnut Terrace, a beautifully renovated, 12-unit turnkey multifamily investment opportunity located in the Heart of Downtown Walnut Creek at 1340 Mt. Pisgah Road. The property features ten One-Bedroom, One-Bathroom units and two Two-Bedroom, One-and-a-half Bathroom Units. Built in 1966, the ±8,876 sq. ft. three-story structure is situated on a ±11,326 Sq. Ft. lot and includes an on-site laundry facility and 13 parking spaces. All 12 apartment units have been renovated with contemporary finishes and nearly $300,000 has been spent on exterior capital improvements including a new roof (2016) and seismic retrofit (2015).

The property boasts a 95 Walk Score (Walker's Paradise) and a 65 Bike Score (Bikeable) as most errands can be accomplished on foot. Broadway Plaza, one of the Bay Area's most visited premier luxury shopping centers, is just steps from the Property. There is a plethora of other fantastic dining, shopping, and entertainment options surrounding the property throughout Downtown Walnut Creek. For entertainment, there's the Lesher Center for the Arts, which showcases theater, music, and dance performances. Nearby parks include Civic Park, Howe Homestead Park, and the Famous Mount Diablo State Park. Additionally, the property is steps from the 32-mile Iron Horse Regional Trail that runs through Walnut Creek and connects the cities of Pleasanton & Concord.

The property is proximate to some of the East Bay's top employers including Kaiser Permanente, John Muir Health, Safeway, Workday, and Chevron, among many others. This makes it an attractive option for professionals looking for a convenient and comfortable place to call home.

The property is under one mile from the Walnut Creek BART Station and just a short walk to County Connection bus stops on South Broadway & Mt. Diablo Blvd., making public transportation a viable option for residents of the property. The property also offers convenient access to the I-680 and Hwy-24, making commutes to surrounding Bay Area cities a breeze.