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    Walnut Creek Development Opportunity Title is generated by Realmo AI

    1856 Almond Ave, Walnut Creek, CA 94596

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    Claim this Listing
    Pending
    $1,198,000

    MULTI_FAMILY - Walnut Creek, CA

    Property size:
    1,330 SF
    Lot size:
    0.17 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    77
    Last Refresh:
    May 14 at 7:06 pm

    Property Features for 1856 Almond Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Laundry Room
    Parking features
    Parking Lot, Off Street
    Exterior features
    Front Yard, Side Yard
    Fencing
    Fenced
    Standard status
    Pending
    APN
    1781100076
    Size
    1,330 SF
    Lot size
    0.17 Acres

    Utilities

    Sewer type
    Public Sewer

    Building Details

    Year built
    1932
    Number of units
    4
    Flooring type
    Hardwood, Carpet
    Building materials
    Wood Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Mike Carey
    Mike Carey

    Listing agent Mike Carey

    Listing office Investment Real Estate 327 St. Mary St., PLEASANTON, CA

    Listing date Feb 26, 2026

    MLS# 41125298 Listing URL

    Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown Walnut Creek location with substantial development potential.
    • Includes a 1932 main residence plus three detached studios with full bathrooms.
    • Existing separate units offer rental income or flexible use as in‑law suites/home offices.
    • Expansive lot allows for expansion of the main residence.
    • Walking distance to Broadway Plaza, BART, top‑rated schools, parks, and entertainment.
    • Significant upside for developers, investors, or end‑users.

    Overview

    This property presents a development opportunity in downtown Walnut Creek. The versatile property includes a 1932 main residence and three detached studios, each with full bathrooms. Located in the core downtown district, the property offers development potential in a high-demand area. The existing three separate units provide rental income or flexibility for expansion, in-law suites, or a home office. There is potential to expand the main residence on the expansive lot. This property is suitable for developers, investors, or end-users seeking to expand or reimagine the existing structures. The location is within walking distance of Broadway Plaza's shopping and dining, BART stations, schools, parks, entertainment, and urban growth. The lot size is 0.1708 acres, and the property size is 1330 square feet. A historic evaluation is required with the city before submitting plans for improvements on the main 1932 house. The buyer is responsible for verifying all zoning, planning, and permit processes with the City of Walnut Creek regarding requirements and use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Real Estate Agency Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Walnut Creek
    County
    Contra Costa
    State
    California
    Longitude
    -122.067131
    Latitude
    37.9005

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    FAQs

    What type of property is this?
    Quadplex - Rare property with development potential in downtown Walnut Creek.
    Where is this quadplex located?
    The property is located at 1856 Almond Ave Walnut Creek, CA.
    What is the asking price?
    The asking price for this property is $1,198,000.
    What are key features of this property?
    This property features: Prime downtown Walnut Creek location with substantial development potential.; Includes a 1932 main residence plus three detached studios with full bathrooms.; Existing separate units offer rental income or flexible use as in‑law suites/home offices.
    (925) 963-0569
    We can help!
    Listing Contact
    Mike Carey
    Mike Carey
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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