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.