Quadplex with Detached 2-Bed
For Sale
$1,595,000
Pending
1594 Morgan Ln., Walnut Creek, CA 94597
MULTI_FAMILY - Walnut Creek, CA
Property Size3,445 SF
Lot Size0.24 Acres
Days on Market51
Property Features for 1594 Morgan Ln.
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 1, Bedroom 4, Bedroom 7, Bedroom 5, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4, Bathroom 5, Bathroom 6, Bedroom 8, Bedroom 2, Bedroom 6
Parking features
Carport, Tandem
Interior features
Storage
Exterior features
Back Yard, Front Yard, Landscape Back, Landscape Front
Subdivision
Walnut Creek
Lot features
Back Yard, Front Yard, Landscaped
Directions
San Luis to Morgan.
Standard status
Pending
APN
1712200482
Size
3,445 SF
Lot size
0.24 Acres
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Wall Furnace
Cooling system
Central Air, Window Unit(s), Ceiling Fan(s), Wall/Window Unit(s)
Water source
Public
Amenities
private front and back yards
double paned windows
central HVAC
no shared walls
Building Details
Year built
1961
Number of units
4
Flooring type
Vinyl, Laminate, Carpet - Partial, Hardwood
Building materials
Stucco, Wood Siding
Roof type
Composition, Flat
Additional Structures
Storage
Listing Agency:
Delphi Realty Group
(888) 353-3574
Listed By:
Alex Khodadad · License #01719021
(925) 705-1300
Added: Jul 9
Changed: Aug 18
Last Checked: Aug 28 at 9:06AM
MLS# 41140995
Copyright © 2026 Contra Costa Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex includes four tenant-occupied units, highlighted by a detached 2-bedroom, 1.5-bath unit with private front and back yards, double paned windows, and central HVAC with no shared walls. Interior features include storage. Exterior amenities include front and back yards, plus landscaped front and back areas.
The property sits on a 0.24-acre lot with approximately 3,445 square feet under roof, built in 1961. Construction materials include stucco and wood siding, and the roof features composition and flat sections. Heating includes wall furnace and forced air, while cooling is provided through central air along with ceiling fans and a mix of wall/window unit systems.
Parking is available with tandem parking and a carport. Utilities include public water and public sewer.
The property sits on a 0.24-acre lot with approximately 3,445 square feet under roof, built in 1961. Construction materials include stucco and wood siding, and the roof features composition and flat sections. Heating includes wall furnace and forced air, while cooling is provided through central air along with ceiling fans and a mix of wall/window unit systems.
Parking is available with tandem parking and a carport. Utilities include public water and public sewer.
Key Highlights
- Detached 2‑bedroom, 1.5‑bath unit with private front and back yards and no shared walls
- 4 tenant‑occupied units in a quadplex
- 0.24‑acre lot with about 3,445 SF
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
$58,981
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
3.70%
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%
$1,179,620
$1.2M
Cap Rate 7%
$842,586
$842.6K
Cap Rate 9%
$655,344
$655.3K
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
$88.9K $25.80/SF
− Vacancy
−$4.6K −$1.34/SF
EGI
$84.3K $24.46/SF
− OpEx
−$25.3K −$7.34/SF
NOI
$59.0K $17.12/SF
Area
Contra Costa County, CA
Vacancy
5.20%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,179,620
Cap Rate 7%
$842,586
Cap Rate 9%
$655,344
Alternative Uses
Best Use
Multifamily LT 5
$842.6K
$737.3K – $983.0K
NOI $58,981 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$782.3K
$684.5K – $912.7K
NOI $54,763 @ 7.0% cap · market cap 3.43%
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
4
Residential units
100%
Occupancy
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?
Quadplex - Quadplex featuring a detached 2-bedroom, 1.5-bath unit with private front and back yards and central HVAC.
Where is this quadplex 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‑bedroom, 1.5‑bath unit with private front and back yards and no shared walls; 4 tenant‑occupied units in a quadplex; 0.24‑acre lot with about 3,445 SF
