| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 85th | Best |
| Demographics | 94th | Best |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1700 Botelho Dr, Walnut Creek, CA, 94596, US |
| Region / Metro | Walnut Creek |
| Year of Construction | 2001 |
| Units | 116 |
| Transaction Date | 2017-06-07 |
| Transaction Price | $48,100,000 |
| Buyer | TIAA-CREF Investment |
| Seller | Berkshire Group |
1700 Botelho Dr Walnut Creek Multifamily Investment
Positioned in Walnut Creek’s urban core, the property benefits from a deep renter base and steady neighborhood occupancy, according to WDSuite’s CRE market data. High local amenity access and strong schools support demand durability and lease retention.
Walnut Creek’s Urban Core places this asset within a high-amenity environment that ranks highly across the Oakland–Berkeley–Livermore metro’s 469 neighborhoods. Amenity access sits in the top quartile nationally, with dense restaurant, cafe, grocery, and pharmacy options that support resident convenience and leasing velocity. Average school ratings are among the strongest in the metro (top tier nationally), a family-friendly signal that tends to bolster stability for longer-term tenants.
Neighborhood occupancy is solid and in line with broader market conditions, aiding income predictability at the submarket level. The area also shows a high share of renter-occupied housing units, indicating depth in the tenant pool and sustained multifamily demand. Median contract rents run elevated for the region, but rent-to-income levels are manageable, which can support retention when renewals are managed thoughtfully.
Within a 3-mile radius, recent population and household growth has been positive and is projected to continue, pointing to a gradually expanding renter pool. Income profiles trend higher than many U.S. locations, which can support effective rents and reduce concessions risk during typical leasing cycles.
Constructed in 2001 versus a neighborhood average vintage from the mid-1980s, the asset is newer than much of the local stock, positioning it competitively against older properties. Investors should still underwrite routine modernization and systems updates to maintain positioning and capture incremental rent premiums over time.
Safety outcomes in the immediate neighborhood track below metro averages among 469 Oakland–Berkeley–Livermore neighborhoods and sit in lower national percentiles, making security and loss-prevention planning an important underwriting consideration. Recent data also shows a year-over-year decline in violent incidents, indicating improving momentum even if overall levels remain elevated relative to many U.S. neighborhoods.
For investors, practical mitigants such as access control, lighting, and partnership with experienced property management can help align operating plans with local conditions. Framing risk comparatively at the neighborhood level avoids block-level conclusions while acknowledging that safety trends are a factor in leasing strategies and expense forecasting.
Proximity to established corporate employers supports commuter convenience and multifamily demand. Key nearby anchors include Chevron, Clorox, Ross Stores, Caterpillar, and Gap, which collectively deepen the professional renter base across finance, retail, energy, and industrial services.
- Chevron — energy HQ & corporate functions (11.0 miles) — HQ
- Clorox — consumer products corporate offices (13.0 miles) — HQ
- Ross Stores — retail corporate offices (15.8 miles) — HQ
- Caterpillar — industrial equipment offices (18.6 miles)
- Gap — apparel corporate offices (19.3 miles) — HQ
1700 Botelho Dr offers scale at 116 units in a high-performing Walnut Creek location with strong amenity access, excellent schools, and a renter base that supports steady leasing. Based on CRE market data from WDSuite, neighborhood occupancy is stable near long-run norms, while higher local incomes and an expanding 3-mile renter pool underpin demand resilience. Elevated home values in the area reinforce reliance on multifamily housing, supporting pricing power when operations and product quality are maintained.
The 2001 vintage is newer than the neighborhood average stock from the 1980s, aiding competitive positioning versus older assets; targeted upgrades can further strengthen rent attainment and retention. Key risks include neighborhood safety metrics that trail metro peers and the need to manage renewal pricing within rent-to-income guardrails, but proximity to major employers and deep amenities provide durable fundamentals over a full cycle.
- Scale and location: 116 units in Walnut Creek’s amenity-rich urban core
- Demand drivers: strong schools, commuter access, and high-income renter base
- Competitive vintage: 2001 construction versus older neighborhood stock, with value-add potential
- Leasing outlook: stable neighborhood occupancy and elevated ownership costs support rent durability
- Risks: below-metro safety metrics and the need to calibrate renewals to rent-to-income levels