1340 Mt Pisgah Rd, Walnut Creek, CA 94596
925-478-4544See Google 3D Street View
PTLA purchased Walnut Terrace Apartments in 2014, expanding our growing portfolio in the San Francisco East Bay. Located in the heart of Walnut Creek, the property met our investment criteria of Walkability, Affordability and Access to Transportation. Over $250,000 was invested in comprehensive interior and exterior upgrades. Following the completion of the projects and the rebranding of the property, the property was refinanced, returning substantial equity to investors. The resulting value increase from the upgrades amounted to over 60%.
Property Facts
Property Type
Conventional Multi-Family
Acquisition Date
Oct-14
Property Vintage
1966
# of Units
12
Strategy
Renovate & Rebrand
Target Holding Period
10 years
Acquisition Leverage
55%
Equity Type
1031 Exchange
Management
PTLA’s management team worked as project manager, overseeing a complete renovation and rebranding of the property. Despite an already quick timeline, the team completed the projects two months ahead of schedule, allowing residents to move in earlier. The leasing team went to work following completion and leased the units well above the targeted rents, driving property cash flow and adding significant value to the property. View the website at www.terraceswalnutcreek.com.
