Walnut Creek Multifamily Investment
For Sale
$2,750,000
1942 Desert Cir, Walnut Creek, CA 94598
Seven-unit multifamily property in desirable Walnut Creek location.
Property Size6,046 SF
Price / SF$454.40
Days on Market162
Property Features for 1942 Desert Cir
General Information
Standard status
Active
Size
6,046 SF
Property subtype
Multifamily
Building Details
Building Size
6,046 SF
Year Built
1967
Units
7
Listing Agency:
NAI Northern California
Listed By:
Ethan Berger · License #CalDRE #01868467
(925) 588-9740
Source:
Nainorcal
Added: Apr 1
Changed: Sep 8
Last Checked: Aug 7 at 12:56AM
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.
The Desert Cir Apartments offer a chance to acquire a seven-unit multifamily property. This two-story building has 6,052 rentable square feet and is part of a professionally maintained 72-unit community. The property is located in a quiet, established neighborhood near downtown Walnut Creek, BART, I-680, and CA-24. The unit mix includes primarily 2-bedroom units and one 3-bedroom unit. The units feature modern interiors with stone countertops, laminate flooring, recessed lighting, fireplaces, and forced-air HVAC. Six of the seven units include full-sized washers and dryers. The property has individually metered gas and electricity, and separate water heaters. Tenants are responsible for PG&E, water, sewer, and trash expenses. Tenant amenities include private balconies or patios, assigned covered parking, guest parking, a community pool, and laundry facilities. The property features a stucco exterior and a pitched asphalt shingle roof. The property is SB 721 compliant.
Key Highlights
- Prime Walnut Creek location near downtown, BART, I‑680, and CA‑24
- Recently updated units with modern interiors, including stone countertops, laminate flooring, and fireplaces
- Desirable unit mix with primarily 2‑bedroom units and one 3‑bedroom unit
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
$96,206
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
3.50%
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%
$1,924,120
$1.9M
Cap Rate 7%
$1,374,371
$1.4M
Cap Rate 9%
$1,068,956
$1.1M
Market Conditions
NOI Build-Up for 6,052 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
$183.7K $30.36/SF
− Vacancy
−$8.8K −$1.46/SF
EGI
$174.9K $28.90/SF
− OpEx
−$78.7K −$13.01/SF
NOI
$96.2K $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%
$1,924,120
Cap Rate 7%
$1,374,371
Cap Rate 9%
$1,068,956
Alternative Uses
Best Use
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $96,206 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,136 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,328
Businesses Nearby
Explore this area
Business Placement
Demographics for 94598, CA
26,826
Population
10,735
Households
2.5
Avg Household Size
46
Median Age
74%
College-Educated
98%
High-School Grad
20.6 sq mi
ZIP Area
1,302
Density / Sq Mi
$188,170
Median Household Income
$99,757
Median Earnings
$2,989
Median Rent
$1,307,100
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 - Seven-unit multifamily property in desirable Walnut Creek location.
Where is this apartment building located?
The property is located at 1942 Desert Cir Walnut Creek, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Prime Walnut Creek location near downtown, BART, I‑680, and CA‑24; Recently updated units with modern interiors, including stone countertops, laminate flooring, and fireplaces; Desirable unit mix with primarily 2‑bedroom units and one 3‑bedroom unit
