1865 Lacassie Ave - Apartments FOR SALE


Walnut Creek, CA 94596- Downtown Walnut Creek
$4,290,000 USD
1865 Lacassie Ave, Walnut Creek, CA for Sale
$4,290,000 USD
Apartments - FOR SALE
1/12
null | 5.02% Cap Rate

1865 Lacassie Ave
Walnut Creek, CA 94596
Downtown Walnut Creek


HIGHLIGHTS

  • Assumable 3.20% Fixed-Rate Financing Possible Through November 2026
  • In Place Rents Average $2,615/Month
  • Over $7,500 in Additional Annual Income From Utility Reimbursement (RUBS)
  • In Unit Washer/Dryers
  • Over $410,000 of Capital Improvements Completed
  • No Local Rent Control - Annual Increases Subject to AB1482 (5.0% + CPI)

OVERVIEW

Hillside Terrace is an exceptional 10-unit multifamily investment opportunity in one of Walnut Creek's premier locations, just steps from the vibrant downtown retail and dining scene. The offering provides investors a rare opportunity to acquire a turn-key asset generating over $26,000 in monthly rental income as well as additional RUBS income. Very attractive 3.20% fixed-rate assumable financing is possible through November 2026. The property includes a desirable unit mix of all 2 bedroom / 1 bath units that average +-800 SF each. Three separate floor plans with slight variations within each encompass the ten units. All unit interiors have been substantially renovated and include updated kitchen cabinets, quartz countertops, stainless steel appliances, vinyl plank flooring, updated bath vanities, shower/tub surrounds, baseboard molding and new lighting throughout. All units include a dishwasher, garbage disposal, built-in microwave, wall mounted air conditioner and in-unit washer/dryers. Significant capital improvements have been completed, including seismic enhancements, upgraded handrails, new entry doors, updated front building facade, new signage and drought resistant landscaping. Covered parking is available on-site for 8 cars, plus an additional four tenant spaces leased from an adjacent property owner. The property, with a Walk Score of 83 is walkable to most Downtown Walnut Creek attractions, and is ideally located just over a quarter mile from the Walnut Creek BART station. This is an exceptional investment opportunity in one of the East Bay's most sought after apartment submarkets. TOURS BY APPOINTMENT ONLY. CONTACT LISTING AGENT FOR TOUR DAYS AND TIMES AND TO RECEIVE THE OFFERING MEMORANDUM.

FOR SALE DETAILS

PRICE

$4,290,000 USD

PRICE/SF

$530 USD /SF

# OF UNITS

10

PRICE/UNIT

$429,000

CAP RATE

5.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hillside Terrace

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

-

APN/PARCEL ID

178-080-032-0

ASK ABOUT THIS PROPERTY

Rich MartiniColliersMore Info

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