| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 93rd | Best |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1555 Riviera Ave, Walnut Creek, CA, 94596, US |
| Region / Metro | Walnut Creek |
| Year of Construction | 1991 |
| Units | 109 |
| Transaction Date | 2011-06-01 |
| Transaction Price | $27,400,000 |
| Buyer | Grestar GP, LLC |
| Seller | Legacy Partners Tower Court, LLC |
1555 Riviera Ave Walnut Creek Multifamily Investment
Neighborhood occupancy is strong with a sizeable renter base, supporting income stability and lease retention, according to WDSuite’s CRE market data. Positioned in Walnut Creek’s urban core, the asset benefits from dining and grocery density that reinforces renter demand.
Walnut Creek’s urban core posts an A- neighborhood rating and ranks in the top quartile among 469 metro neighborhoods, per WDSuite. For investors, that translates to durable demand drivers: neighborhood occupancy trends are elevated and the renter-occupied share is high, indicating a deeper local tenant base that can support steady leasing and pricing power through cycles.
Amenity access skews favorable for daily needs and dining. Restaurant density is among the strongest nationally and grocery access is also nationally competitive, while parks, pharmacies, and cafes are less prevalent within the immediate neighborhood footprint. For multifamily, this mix often supports weekday convenience and evening activity even if green space and cafe options are thinner nearby.
The property’s 1991 vintage is newer than the neighborhood’s average construction year (1977). That typically provides a competitive edge versus older stock, though investors should still plan for aging-system upgrades or targeted modernization to sustain rent positioning against newer deliveries.
Within a 3-mile radius, demographics point to a high-income renter pool and modest population growth, with households expanding and projected to increase further by 2028. Rising incomes and elevated neighborhood median rents suggest some affordability pressure to manage, yet a rent-to-income profile around 0.21 (per WDSuite) indicates room for disciplined rent strategies without overstressing retention. Elevated home values in the area reinforce renter reliance on multifamily housing, supporting occupancy resilience.
Safety indicators for the neighborhood sit around the metro middle when compared with 468 other areas in the Oakland–Berkeley–Livermore region, based on WDSuite. Nationally, overall safety metrics are near average, with recent data showing a notable year-over-year decrease in estimated violent-offense rates, even as property-offense levels remain a monitoring item.
For investors, the takeaway is to underwrite standard security and loss-prevention measures and to track trendlines at the neighborhood level rather than block-by-block, as conditions can vary within urban cores. Continued improvement in violent-offense trends is a positive signal, while property crime warrants routine operational oversight.
The location is proximate to a concentration of regional headquarters and corporate offices that underpin white‑collar employment and support renter demand. Nearby anchors include Chevron, Clorox, Ross Stores, Ryder, and Gap.
- Chevron — energy HQ (12.0 miles) — HQ
- Clorox — consumer products (13.5 miles) — HQ
- Ross Stores — retail HQ (16.8 miles) — HQ
- Ryder — logistics (18.1 miles)
- Gap — apparel HQ (19.6 miles) — HQ
1555 Riviera Ave brings 109 units built in 1991 into a neighborhood that ranks in the metro’s top quartile and exhibits high occupancy with a sizable renter-occupied share. According to commercial real estate analysis from WDSuite, the area’s strong dining and grocery access, elevated incomes, and steady household growth within a 3-mile radius point to a durable tenant base and support for stabilized operations.
The asset’s vintage is newer than much of the surrounding stock, offering competitive positioning with potential to capture value through targeted system upgrades and unit modernization. Elevated ownership costs in Walnut Creek reinforce reliance on rental housing, which, paired with proximity to multiple corporate anchors, supports leasing velocity and rent consistency; investors should still account for routine capex and property-crime monitoring typical of urban cores.
- High neighborhood occupancy and deep renter base support income stability
- 1991 vintage out-positions older stock with value-add potential via selective upgrades
- Strong dining and grocery access with high-income demographics within 3 miles
- Proximity to regional HQs underpins renter demand and lease retention
- Risks: property-crime oversight, limited nearby parks/cafes, and ongoing capex for aging systems