Updated Two-Bedroom Apartment
New
For Sale
$2,895,000
1150 Lincoln Ave, Walnut Creek, CA 94596
Updated interiors, covered parking, storage, and resident laundry support daily convenience.
Property Size5,152 SF
Days on Market6
Property Features for 1150 Lincoln Ave
General Information
Standard status
Active
Size
5,152 SF
Property subtype
5 or More Units
Additional Details
Public Transit
Yes
Amenities
coin operated washer and dryers
covered parking
individual storage closets
wall-mounted air conditioning
Building Details
Building Size
5,152 SF
Year Built
1959
Listing Agency:
NAI Northern California
Listed By:
Ethan Berger · License #01868467
(925) 588-9740
Source:
Remaxaccord
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 6:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Northern California
Investment Insights
Based on property information with market context.
This 1959 apartment property consists entirely of two-bedroom units. Interior improvements include hard-surface flooring, refreshed kitchen cabinetry and appliances, updated bathroom fixtures, recessed lighting, and new base and crown molding. Each residence has an individual water heater, wall-mounted air conditioning, and a newly replaced wall heater. Property amenities include covered parking, an individual storage closet for each unit, and owner-operated coin laundry equipment.
Capital work includes sewer lateral replacement, upgraded electrical sub-panels and main electrical panel, and a roof replacement completed in 2018. The property is located at 1150 Lincoln Ave in Walnut Creek, within walking distance of Downtown Walnut Creek, Civic Park, the Walnut Creek Library, and Walnut Creek BART. These nearby destinations provide access to retail, dining, recreation, employment, and regional transportation.
Capital work includes sewer lateral replacement, upgraded electrical sub-panels and main electrical panel, and a roof replacement completed in 2018. The property is located at 1150 Lincoln Ave in Walnut Creek, within walking distance of Downtown Walnut Creek, Civic Park, the Walnut Creek Library, and Walnut Creek BART. These nearby destinations provide access to retail, dining, recreation, employment, and regional transportation.
Key Highlights
- All units are configured as two‑bedroom apartments
- 1959 construction with roof replacement completed in 2018
- Updated flooring, kitchens, bathrooms, lighting, and trim
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$81,899
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,637,980
$1.6M
Cap Rate 7%
$1,169,986
$1.2M
Cap Rate 9%
$909,989
$910.0K
Market Conditions
NOI Build-Up for 5,152 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$156.4K $30.36/SF
− Vacancy
−$7.5K −$1.46/SF
EGI
$148.9K $28.90/SF
− OpEx
−$67.0K −$13.01/SF
NOI
$81.9K $15.90/SF
Area
Contra Costa County, CA
Vacancy
4.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,637,980
Cap Rate 7%
$1,169,986
Cap Rate 9%
$909,989
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,899 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,322 @ 7.0% cap · market cap 4.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,530
Businesses Nearby
Explore this area
Business Placement
Demographics for 94596, CA
22,861
Population
11,242
Households
2
Avg Household Size
40
Median Age
70%
College-Educated
97%
High-School Grad
6.1 sq mi
ZIP Area
3,748
Density / Sq Mi
$137,660
Median Household Income
$72,311
Median Earnings
$2,471
Median Rent
$1,245,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated interiors, covered parking, storage, and resident laundry support daily convenience.
Where is this apartment building located?
The property is located at 1150 Lincoln Ave Walnut Creek, CA.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: All units are configured as two‑bedroom apartments; 1959 construction with roof replacement completed in 2018; Updated flooring, kitchens, bathrooms, lighting, and trim
