2023 1st Ave, Walnut Creek, California 94597, Walnut Creek, 94597 - 5 bed, 5 bath
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Walnut Creek, California 94597
This Multi-Generational Residential Asset is a High-Potential Investment Opportunity, listed at $2,398,000—positioned above the $2,125,710 Fair Market Value. While priced at a premium, the property features a Condition Rating of 2 (Mint), including a main residence, a new 1,000 sq. ft. dwelling, and a guest suite. With an Approved Lot Split and High Available Lot Utilization, this property offers significant long-term value. Located near Top-Rated Schools like Las Lomas High, it is an ideal acquisition for Buy-and-Hold Investors or Multi-Generational Families.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2023 1st Ave Subject | $2,298,000* List Price | 5 | 5 | 2,760 | $751 | - |
A 1747 1st Ave Sold | $1,830,000 | 4 | 4 | 2,761 | $663 | 0.4 mi |
B 2084 2084 Mallard Dr Sold | $2,050,000 | 5 | 4 | 2,655 | $772 | 0.2 mi |
C 1445 Ramsay Circle Sold | $1,675,000 | 4 | 2 | 2,147 | $780 | 0.6 mi |
D 1103 Andrew Ln Pending | $1,699,000 List Price | 4 | 3 | 2,398 | $709 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property underwent a comprehensive high-end renovation and includes two brand-new additional dwellings. Features include modern designer kitchens with premium appliances, contemporary bathrooms with high-end tile work, vaulted ceilings with skylights, and updated systems including a tankless water heater, all in mint condition.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11877, living area = 2760.
High School: Las Lomas High School (9/10).
The property features three distinct living units—a main home, a new 1,000 sq. ft. dwelling, and a guest suite—offering unparalleled versatility for rental income or extended family living.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2760, other record living area = 1360. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.
At nearly $2.4 million, the listing price is a significant investment for the area, which may limit the buyer pool to specific high-end investors or multi-generational families.
Managing three separate living structures on a single lot involves higher maintenance responsibilities and more complex utility management compared to a traditional single-family residence.
IMPROVED PRICE-$100K Price Drop! 3 NEW & UPDATED RESIDENCES-MULTI-GENERATIONAL COMPOUND WITH APPROVED LOT SPLIT & INCOME STREAM! Rarely does a property come along that offers this level of versatility, quality craftsmanship, and monetary upside all in one exceptional opportunity. Meticulously designed and thoughtfully improved, this extraordinary multi-residence property presents endless possibilities for multigenerational living, executive lifestyle flexibility, expansion and rental income (Owner has received $8K for mo-mo furnished rental on main 3/2 home & is currently getting $6K for the new 2/2 ADU & $2,750K for new executive studio w/full bath & kitchenette). Each residence comes with full kitchen, laundry & kitchenette (executive studio). The beautifully updated single-story main residence offers 3 bedrooms & 2 bathrooms with stylish finishes, newer appliances and an ideal open layout for everyday living & entertainment. Every detail has been carefully curated to create a warmth and sophistication. Complementing the main home is a NEW ~1,000 sq. ft. voluminous dwelling featuring 2 bedrooms, 2 bathrooms, soaring ceilings, exposed wood beams, hardwood flooring, new appliances w/laundry, & stunning natural light creating an open and elevated ambiance. The quality of construction and architectural detail truly set this residence apart. Currently generating $6K/mo. rent. Adding even more flexibility is the NEW GUEST OR EXECUTIVE SUITE complete with kitchenette and full bathroom — ideal for guests, home office, creative studio, fitness space, or additional income-currently owner is collecting $2,750/mo.rent for this studio. Situated on a FLAT, END OF CUL-DE-SAC location, in one of the area’s most desirable locations of Larkey Estates, this remarkable property is just steps from a private swim club, the beautiful Larkey Park and the beloved Lindsay Wildlife. Minutes to BART, Highway 680, our vibrant downtown amenities, premier shopping, dining, and entertainment, living here makes life so enjoyable, easy & even profitable! (few photos digitally enhanced-for example removal of some PG&E paint markings on street)
No exterior & parking available.
Grades K-5 • 0.7 mi
Grades K-5 • 0.9 mi
Grades 6-8 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 4.0 |
| Baths | 5.0 | 3.0 |
| Square foot | 2,760 | 2,053 |
| Lot Size | 11,877 | 11,600 |
| Price | $2.30M | $1.57M |
| Price per sq ft | $833 | $766 |
| Built year | 1947 | 1962 |
| HOA | $0 | $591 |
| Days on market | 55 | 33 |
Jul 15, 2026
$2,298,000
$2,398,000
-4% Price Drop
Initial Listing
May 29, 2026
$2,398,000
Initial Listing
Sep 30, 2024
$1,450,000
Public Record
May 7, 2024
$844,000
Public Record