Multifamily Property With Detached
For Sale
$1,595,000
1594 Morgan Ln., Walnut Creek, CA 94597
Five residential units include a detached two-bedroom home with private outdoor areas and no shared walls.
Property Size3,445 SF
Days on Market37
Property Features for 1594 Morgan Ln.
General Information
Standard status
Active
Size
3,445 SF
Property subtype
Multi Family Home
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
5
Building Details
Building Size
3,445 SF
Year Built
1961
Tenancy
Multi
Listing Agency:
Delphi Realty Group
(925) 705-1300
Listed By:
Alex Khodadad · License #01719021
(925) 705-1300
Source:
Brucebaldwin
Added: Jul 9
Changed: Aug 12
Last Checked: Aug 13 at 1:05PM
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 Delphi Realty Group
Investment Insights
Based on property information with market context.
Built in 1961, this multifamily property includes four tenant-occupied units and a detached two-bedroom, one-and-a-half-bath residence. The detached home has separate front and rear yards, double-pane windows, central HVAC, and no shared walls, offering a distinct configuration within the property.
The property is near Highway 680, BART, schools, and downtown Walnut Creek. Its combination of multiple occupied units and a separate residence provides a varied residential layout in a centrally positioned Walnut Creek setting.
The property is near Highway 680, BART, schools, and downtown Walnut Creek. Its combination of multiple occupied units and a separate residence provides a varied residential layout in a centrally positioned Walnut Creek setting.
Key Highlights
- Detached 2‑bed, 1.5‑bath residence with private front and back yards
- Four tenant‑occupied units on the property
- Detached unit has no shared walls
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
$54,763
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
3.43%
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%
$1,095,260
$1.1M
Cap Rate 7%
$782,329
$782.3K
Cap Rate 9%
$608,478
$608.5K
Market Conditions
NOI Build-Up for 3,445 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
$104.6K $30.36/SF
− Vacancy
−$5.0K −$1.46/SF
EGI
$99.6K $28.90/SF
− OpEx
−$44.8K −$13.01/SF
NOI
$54.8K $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%
$1,095,260
Cap Rate 7%
$782,329
Cap Rate 9%
$608,478
Alternative Uses
Best Use
Apartment 5plus
$782.3K
$684.5K – $912.7K
NOI $54,763 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,155 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 94597, CA
23,661
Population
11,262
Households
2.1
Avg Household Size
39
Median Age
66%
College-Educated
96%
High-School Grad
4.1 sq mi
ZIP Area
5,771
Density / Sq Mi
$142,685
Median Household Income
$79,278
Median Earnings
$2,557
Median Rent
$986,700
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 - Five residential units include a detached two-bedroom home with private outdoor areas and no shared walls.
Where is this apartment building located?
The property is located at 1594 Morgan Ln. Walnut Creek, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Detached 2‑bed, 1.5‑bath residence with private front and back yards; Four tenant‑occupied units on the property; Detached unit has no shared walls
