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2646 Baldwin Ln, Walnut Creek, California 94597, Walnut Creek, 94597 - bed, bath

2646 Baldwin Ln, Walnut Creek, California 94597 home-pic-0
ACTIVE$1,510,000/sqft
2646 Baldwin Ln, Walnut Creek, California 94597
0Bed
0Bath
Sqft
9,409Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Great Schools: High School: Las Lomas High School (9/10).
Top Cons:
Required Capital for Upgrades: While some units have updates, the property requires further investment in finishes and details to maximize rental income, indicating a need for capital expenditure post-acquisition.

Compared to the nearby listings

Price:$1.51M vs avg $1.51M (+$0)50%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%

More Insights

Built in 1961 (65 years old).
Condition: Built in 1961, this property is aged. While the description notes 'some units have had updating in the past several years including some new flooring, some new cabinetry, counters, appliances, windows and window coverings,' it explicitly states there's an 'opportunity to take them to the next level of finishes and details.' This indicates that while functional and maintained, the property is not fully modernized and requires further investment to achieve higher quality finishes. The exterior appears well-maintained for its age, and utility systems (meters, electrical panels) seem updated. However, the presence of wall-mounted AC units suggests older cooling systems, and the lack of interior photos of kitchens and bathrooms, combined with the 'add value' proposition, points to these areas being functional but likely dated and not extensively renovated to current standards.
Year Built
1961
Close
-
List price
$1.51M
Original List price
$1.51M
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41121046
Home ConditionFair
Features
Deck
Patio
View-

About this home

FANTASTIC "ADD VALUE" OPPORTUNITY! LOW RENTS, ALL 2/1, MANY UPDATES AND POTENTIAL FOR AN ADU! PROPERTY NEXT DOOR JUST CLOSED FOR $1,650,000! Baldwin Lane Apartments is a well-located, multi-family property that is being brought onto market for the first time in more than three decades. It represents a rare opportunity to own property in one of the Bay Area’s most desirable locations — Walnut Creek. The property is close to BART, shopping, cafes, and coffee shops in Downtown Walnut Creek as well as having highly rated schools. The property is also close to Highways I-680 and 24 and provides access to recreational facilities such as Larkey Park/Pool, Civic Park, and Acalanes Ridge Open Space. The two-story property features uncommon construction details including raised foundations, low maintenance stucco exteriors, pitched composition shingle roofs, garages, common laundry facility, and separate meters for gas and electricity. Some units have had updating in the past several years including some new flooring, some new cabinetry, counters, appliances, windows and window coverings. The units present well, but there is an opportunity to take them to the next level of finishes and details that would likely result in significantly higher rents.

S
Shawn Willis
Listing Agent

Nearby schools

7/10
Buena Vista Elementary School
Public,•K-5•0.6mi
6/10
Pleasant Hill Elementary School
Public,•K-5•1.3mi
7/10
Walnut Creek Intermediate School
Public,•6-8•1.0mi
5/10
Pleasant Hill Middle School
Public,•6-8•1.1mi
8/10
Tice Creek
Public,•K-8•2.2mi
9/10
Las Lomas High School
Public,•9-12•2.2mi
8/10
College Park High School
Public,•9-12•3.1mi

Price History

Date
Event
Price
12/03/93
Sold
$370,000
Condition Rating
Fair
Built in 1961, this property is aged. While the description notes 'some units have had updating in the past several years including some new flooring, some new cabinetry, counters, appliances, windows and window coverings,' it explicitly states there's an 'opportunity to take them to the next level of finishes and details.' This indicates that while functional and maintained, the property is not fully modernized and requires further investment to achieve higher quality finishes. The exterior appears well-maintained for its age, and utility systems (meters, electrical panels) seem updated. However, the presence of wall-mounted AC units suggests older cooling systems, and the lack of interior photos of kitchens and bathrooms, combined with the 'add value' proposition, points to these areas being functional but likely dated and not extensively renovated to current standards.
Pros & Cons

Pros

Great Schools: High School: Las Lomas High School (9/10).
Prime Location & Accessibility: Situated in desirable Walnut Creek, offering excellent access to BART, Downtown amenities (shopping, cafes), major highways (I-680, 24), and recreational facilities.
Significant Value-Add Potential: Explicitly noted for 'low rents' and the opportunity to upgrade units to achieve 'significantly higher rents,' presenting a clear path to increased profitability.
ADU Development Opportunity: The property description highlights 'potential for an ADU,' offering a direct avenue to expand income streams and enhance overall property value.
Strong Market Comps & Rare Offering: A neighboring property recently sold for $1.65M, indicating robust market value. This is also the first time the property has been on the market in over three decades, making it a unique acquisition.
Multi-Family Income Property: As a quadruplex, it provides immediate residential income and diversification for an investor, supported by solid construction features like separate meters and garages.

Cons

Required Capital for Upgrades: While some units have updates, the property requires further investment in finishes and details to maximize rental income, indicating a need for capital expenditure post-acquisition.
Older Property Age (1961): Built in 1961, the property is over 60 years old. This age can imply potential for deferred maintenance or the need for significant system upgrades not covered by recent cosmetic updates.
Current Under-Market Rents: The current 'low rents' mean the property is not performing at its full income potential, requiring an active management strategy and investment to bring rents up to market rates.
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