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Listed by Keith Manson Cushman & Wakefield
$11,975,000
Est. payment /mo
50 Beds
26,250 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 26,250 sqft
Price per Sqft $456
MLS Listing ID 425028869
Bedrooms 50
HOA Y/N No
Year Built 1973
Lot Size 0.800 Acres
Acres 0.8
Property Sub-Type Mixed Use
Property Description
Carmel Pines is a 50-unit value-add apartment community located at 1770 Carmel Dr. in Downtown Walnut Creek, CA. Built in 1973 as a senior apartment community, the property has been operated as such since its completion. However, there is no deed restriction on title limiting the tenant base to seniors, providing potential flexibility for future repositioning. This is a rare opportunity to acquire a well-located multifamily asset in one of the Bay Area's most desirable submarkets, offering strong rental demand, excellent connectivity, and proximity to premier shopping, dining, & entertainment options. Situated on an 0.80-acre lot, Carmel Pines consists of one 3-story residential building & a single-story leasing office and community room, totaling 26,250 SF. The property features fifty 1-bed, 1-bath units, averaging 525 SF, with on-site amenities including a laundry facility, a passenger elevator, & 14 off-street parking spaces. The roof was replaced in 2016, and the main electrical service panel was upgraded in 2009, ensuring a well-maintained infrastructure for future ownership. The Property benefits from an unbeatable downtown Walnut Creek location, just 1/2-mile from Broadway Plaza, the region's premier luxury shopping destination.
Location
State CA
County Contra Costa
Area Walnut Creek
Interior
Heating Wall Furnace
Cooling Individual, Wall Unit(s)
Fireplace No
Laundry Coin Operated, Common Area
Exterior
Roof Type Asphalt
Total Parking Spaces 14
Building
Lot Description Curbs/Gutters, Sidewalk, Other
Sewer Public Sewer
Water Public
Level or Stories Three Or More
New Construction Yes
Others
Tax ID 1783600057
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