Sandpiper Apartments | 1180 Saranap Ave
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Sandpiper Apartments 1180 Saranap Ave
24 Unit Apartment Building $4,750,000 ($197,917/Unit) Walnut Creek, CA 94595
Investment Highlights
- Situated in the desirable Walnut Creek area, the property offers excellent accessibility and visibility with quick access to major highways
- Full Occupancy: The Sandpiper Apartments are currently 100% occupied, providing a stable and reliable income stream.
- Versatile Units: The property features a mix of studio units (200 SF) and one-bedroom units (360-400 SF), catering to a diverse tenant base.
- Key Amenities: The property boasts a pool and onsite parking, enhancing its appeal to potential renters.
Executive Summary
Newmark, as the exclusive advisor, is pleased to present an opportunity to acquire the Sandpiper Apartments located at 1180 Saranap Ave in Walnut Creek, California. The Property comprises approximately ±8,528 square feet on 0.33 acres and features 24 residential units. The unit mix includes a combination of studios and one-bedroom apartments, making it a versatile and attractive option for a variety of tenants. The Sandpiper Apartments are fully occupied, offering a stable income stream with significant potential for value-add improvements and rent growth.
Property Facts
| Price | $4,750,000 | Building Class | C |
| Price Per Unit | $197,917 | Lot Size | 0.33 AC |
| Sale Type | Investment | Building Size | 8,528 SF |
| No. Units | 24 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1958 |
| Apartment Style | Low Rise | Parking Ratio | 3.17/1,000 SF |
| Price | $4,750,000 |
| Price Per Unit | $197,917 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 8,528 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 3.17/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Walk-In Closets
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 200 |
| 1+1 | 20 | - | 360 - 400 |
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PROPERTY TAXES
| Parcel Number | 185-370-018-3 | Improvements Assessment | $295,670 |
| Land Assessment | $2,844,572 | Total Assessment | $3,140,242 |
PROPERTY TAXES
Parcel Number
185-370-018-3
Land Assessment
$2,844,572
Improvements Assessment
$295,670
Total Assessment
$3,140,242
zoning
| Zoning Code | M-29, Walnut Creek |
| M-29, Walnut Creek |
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Mike Zylstra -
Forrest Gherlone -
Matthew Clark -
Max Gunari -
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Sandpiper Apartments | 1180 Saranap Ave
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