Sandpiper Apartments
Multifamily | 6.23% CAP
Marketing description
The Sandpiper Apartments at 1180 Saranap Avenue presents a rare opportunity to acquire a fully stabilized 24-unit multifamily property located just minutes from Downtown Walnut Creek. The property features a well-balanced unit mix consisting of twenty (20) one-bedroom / one-bath units and four (4) studio units. Tenant amenities include perimeter fencing, on-site parking, and on-site laundry facilities, all of which contribute to consistent occupancy and strong tenant retention.
All units are individually metered for gas and electric, providing operational efficiency and reduced owner expense exposure. The property has undergone meaningful capital improvements, with the majority of units having been remodeled. Recent upgrades include new flooring, fresh interior and exterior paint, and all-new LED lighting. Unit interiors are equipped with waterproof vinyl flooring, double-pane windows, and air-conditioning units, features that align well with tenant expectations in this highly desirable submarket.
The Sandpiper Apartments is currently fully occupied and stabilized, offering immediate and reliable in-place cash flow. In addition, the asset provides future upside potential through continued unit turnover, mark-to-market rent adjustments, and organic rent growth through annual increases. This opportunity is well-suited for investors seeking a low-maintenance, stabilized asset in Walnut Creek.
Investment highlights
Strong Unit Mix, Comprised of twenty (20) one-bedroom / one-bath units and four (4) studio units, appealing to a broad tenant base and supporting consistent occupancy.
Individually Metered Utilities, All units are separately metered for gas and electric, reducing owner expenses and enhancing operational efficiency.
Recent Capital Improvements, Majority of units have been remodeled with upgrades including fresh interior and exterior paint, waterproof vinyl flooring, double-pane windows, and air-conditioning.
Low-Maintenance Investment Profile, Stabilized operations, utility efficiencies, and recent improvements create a durable, low-maintenance ownership opportunity.
Minutes to Downtown Walnut Creek Approximately 1.5 miles from Downtown Walnut Creek and Broadway Plaza, the city’s premier shopping, dining, and entertainment district.
Excellent Transit Access : Roughly 1.5 miles to the Walnut Creek BART Station, providing direct connectivity to San Francisco, Oakland, and the greater
Bay Area.Immediate Freeway Connectivity: Convenient access to Interstate 680 and Highway 24, allowing seamless commuting throughout Contra Costa County and the broader East Bay.
Strong Employment Base: Proximity to major regional employers, including Kaiser Permanente, CSAA, Safeway, Nordstrom, and John Muir Health.
Affluent Demographics: Located within a high-income East Bay market supported by strong household incomes, stable employment, and long-term rental demand.
High Quality of Life: Surrounded by parks, trails, and outdoor recreational amenities, supporting a desirable live-work-play environment.
High-Barrier-to-Entry Market: Limited new multifamily supply and strict zoning constraints support long-term asset value and rent growth.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
