Spanish Castle Apartments 1183 Saranap Ave 34 Unit Apartment Building $7,995,000 ($235,147/Unit) Walnut Creek, CA 94595

The Spanish Castle Apartments, located at 1183 Saranap Avenue, Walnut Creek, is a clean, well-located, multi-family property that has been carefully maintained and has now been brought to market for the first time in 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 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 Shell Ridge Open Space.
The three-story building features uncommon construction details that include a concrete slab foundation, low maintenance stucco exteriors, pitched tile and flat vinyl roof (replaced in February of 2026), carports, additional storage for residents, complex laundry facility, and separate meters for gas and electricity. The property has well-designed floor plans and a mix of easy to rent units:
(12) 2BR / 1BA - 870 s.f. +/-
(6) 2BR / 1BA – 890 s.f. +/-
(9) 1BR / 1BA – 680 s.f. +/-
(5) 1BR / 1BA – 695 s.f. +/-
(1) 1BR / 1BA TH – 655 s.f. +/-
Residents have access to the sparkling pool, beautiful courtyard, and laundry facilities.
Many units have been updated in the past several years including new flooring, updated countertops, cabinetry hardware, and fixtures. Four of the units have also benefited from new cabinetry, stainless steel appliances, LVP flooring, new bathrooms and recessed lighting.
Walnut Creek is a highly desirable city located about 24 miles East of San Francisco. Served by public transit including BART with two stations and located at the intersection of Highway 24 and Interstate 680, the location offers close proximity to San Francisco, Oakland and most of the Bay Area. Considered a “blend of upscale suburban living with urban convenience,” the city is home to Broadway Plaza, one of the top-rated shopping centers in the Bay Area anchored by Nordstrom, Macy’s, Apple, H&M and Zara. The city has a walkable downtown area with abundant boutiques, cafes and restaurants. It is home to the Lesher Center for the Arts, which offers year-round entertainment in the form of concerts, plays and special events. The city also boasts top rated schools from elementary, middle and high schools near most neighborhoods. California State University, East Bay campus is located just a short drive from Walnut Creek as well. Despite the urban conveniences, Walnut Creek also has more than 3,000 acres of open spaces and parks including Mt. Diablo State Park, Shell Ridge, Lime Ridge and Heather Farm Park. According to Zillow, the median home price in Walnut Creek is $923,000 with an average of $1,047,000.