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Walnut Creek, CA

209 Units

Built in 1970

Value Add

Investment Highlights

  • Compelling Value-Add Opportunity: Stoneridge is primed for a value-add opportunity focused on incremental renovation to unit interiors and exterior enhancements. There are 67 units (32 percent of the community) that have not been renovated to a modern specification, allowing a future owner to capture significant rent premiums through additional cosmetic upgrades to these units.
  • Operational Upside: Average in-place rents at Stoneridge are at a significant discount to true market potential due to the disruption caused by the renovation program at the property over the past several years. In addition to collapsing the existing loss-to-lease, a future owner also has the opportunity to drive revenue via enhanced operations such as higher penetration of utility reimbursement.
  • Proximity to Downtown Walnut Creek and BART: Walnut Creek's vibrant downtown district, approximately one mile from the property, offers one of the premier shopping and dining destinations in the East Bay. The Walnut Creek BART station, also located in downtown, provides easy access to key Bay Area destinations such as Oakland (24 minutes) and San Francisco (35 minutes).
  • Access to Major Employment Centers: Stoneridge is proximate to major Bay Area job centers including Walnut Creek, Oakland, San Francisco, and the Tri-Valley (San Ramon-Pleasanton-Dublin). The East Bay's robust offering of lifestyle amenities with relative affordability for both housing and office space has continued to make it a popular destination for residents and employers. Notable companies that have recently expanded or relocated to the East Bay.

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