1213 San Pablo Ave · Berkeley, CA 94706

$2,550,000

14 bd · 14.0 ba · 5,216 sqft · MultiFamily public records · 49 Days on market

Built 1958 5,000 sqft lot $489/sqft · 38% above area Est $1844k · 38% over

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.0/30.0
• DSCR +9.9/10.0
• 1% rule +8.5/10.0
• Schools +5.7/10.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 14 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Located along the San Pablo corridor with direct access to I-80 and AC Transit lines to UC Berkeley, 1213 San Pablo Ave offers a well-positioned 14-unit investment opportunity. The property consists entirely of 1BD units, providing a consistent and in-demand unit mix. The building is well maintained with dual pane windows throughout and select units already remodeled, creating a strong foundation for future growth. Several units are currently vacant, allowing a new owner to place tenants at market rents and increase income from day one. Tenants benefit from being less than a 5-minute walk to Whole Foods and Sprouts, with dining and retail options nearby and a short drive to Solano Avenue and Fourth Street. Located within the West Berkeley Commercial district, the property also offers long-term redevelopment potential.

Key facts

• 5,000 sq ft lot
• Built 1958
• Listed 49 days

What this means for you Summary

Snapshot

• This is a 14 × 1-bed/1-bath units multifamily listed at $2.55M.

Deal economics

• At list price, monthly cash flow is $8k ($95k/yr) — positive. Per door: $566/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($34k rent vs $2.55M).
• Recommended offer: $2.47M (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 2.0% in Berkeley — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#74 in CA, #2,860 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, amenities A+, commute A+; Watch: crime F, cost of living F.
• Berkeley Unified (urban): math 61% / reading 67% proficiency, ranked #175 of 1,400 in CA (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.6%/yr); 54 active listings in the ZIP; high-income renter base; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $34,331/mo this rent would consume 287% of the median local household income ($143k/yr) (locally 860% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $18k of loan paydown is wiped out by about $76k of value loss. Plan a longer hold.
• Alameda County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($2.47M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,473,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 10.02%
• Cash-on-cash: 13.31%
• DSCR: 1.59
• GRM: 6.2

CMA / ARV

• ARV (median comp): $1,843,689
• List price: $2,550,000
• Delta: 38.31%
• Verdict: OVERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.61% rent growth · sell at horizon

5-year hold

• IRR: 1.7%
• Equity multiple: 1.06×
• Total profit: $45,209
• Equity at exit: $380,213

10-year hold

• IRR: 9.8%
• Equity multiple: 1.71×
• Total profit: $505,793
• Equity at exit: $220,477

Cash invested: $714,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Berkeley: 0 Strongly Tenant-Friendly · D+78

Original CA rent control city; vacancy rent control after Costa Hawkins limits.

Methodology + full state rankings →

ZIP-level market 94706

• Rents YoY: 1.6%
• Active inventory: 54
• Price-to-rent: 86.7×

Monthly cashflow live

• Estimated rent: $34,331 high
• Mortgage (P&I): −$13,372
• Tax from tax record: −$4,769 /mo · $57,224/yr
• Insurance: −$1,062
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,210
• Net cashflow: $7,918

Break-even live

Break-even rent $24,308

Max offer price $2,550,000

Occupancy floor 72%

14-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 14× units	1	1	$34,328
Total (14 units)			$34,331

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $637,500
• Closing costs: $76,500
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-18
   days on market $2,550,000 Active 49 DOM
2. 2026-06-17
   days on market $2,550,000 Active 48 DOM
3. 2026-06-16
   days on market $2,550,000 Active 47 DOM
4. 2026-06-15
   days on market $2,550,000 Active 46 DOM
5. 2026-06-13
   days on market $2,550,000 Active 44 DOM
6. 2026-06-13
   days on market $2,550,000 Active 43 DOM
7. 2026-06-09
   days on market $2,550,000 Active 40 DOM
8. 2026-06-08
   days on market $2,550,000 Active 39 DOM
9. 2026-06-07
   days on market $2,550,000 Active 38 DOM
10. 2026-06-04
    days on market $2,550,000 Active 35 DOM
11. 2026-06-03
    days on market $2,550,000 Active 34 DOM
12. 2026-06-02
    days on market $2,550,000 Active 33 DOM
13. 2026-06-01
    days on market $2,550,000 Active 32 DOM
14. 2026-05-31
    days on market $2,550,000 Active 31 DOM
15. 2026-04-30
    listed $2,550,000 Active 829-char remark

    Show marketing remark (829 chars)

    Located along the San Pablo corridor with direct access to I-80 and AC Transit lines to UC Berkeley, 1213 San Pablo Ave offers a well-positioned 14-unit investment opportunity. The property consists entirely of 1BD units, providing a consistent and in-demand unit mix. The building is well maintained with dual pane windows throughout and select units already remodeled, creating a strong foundation for future growth. Several units are currently vacant, allowing a new owner to place tenants at market rents and increase income from day one. Tenants benefit from being less than a 5-minute walk to Whole Foods and Sprouts, with dining and retail options nearby and a short drive to Solano Avenue and Fourth Street. Located within the West Berkeley Commercial district, the property also offers long-term redevelopment potential.

16. 2026-03-25
    historical
17. 2026-01-29
    price
18. 2026-01-12
    listed Active
19. 2018-10-31
    soldstatus $2,950,000 Closed
20. 2018-10-31
    soldstatus $2,950,000 Sold
21. 2018-10-31
    soldstatus $2,950,000
22. 2018-10-31
    soldstatus $2,950,000
23. 2018-10-31
    soldstatus $2,950,000
24. 2018-08-10
    status Pending (Do Not Show)
25. 2018-08-10
    status Pending
26. 2018-07-20
    listed $2,786,000 Active
27. 2018-07-19
    listed $2,786,000 Active
28. 2018-07-19
    listed $2,786,000
29. 2018-07-19
    listed $2,786,000
30. 2006-07-14
    listed $1,390,000
31. 2006-05-02
    listed $1,430,000
32. 1987-12-30
    soldstatus $135,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $57,224 · $4,769/mo
• Projected year-2 tax: $57,224 · $4,769/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥82°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 16 unhealthy d/yr today · 16 by 30 yrs out

Taxation est. · year 1

• Rental income: $411,972
• − Mortgage interest: −$142,840
• − Property taxes: −$57,224
• − Insurance: −$12,750
• − Repairs & maintenance: −$32,958
• − Management: −$32,958
• − Depreciation: −$74,182
• Taxable income: $59,061
• Est. tax owed @ 24.0%: −$14,175
• After-tax cash flow: $80,839/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Berkeley Unified
• NCES district ID: 0604740
• Math proficiency: 61% ▲ 2.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $66,202
• Composite: 57.37/100
• National rank: #2288
• State rank: #175 of 1400 in CA

Livability — Berkeley

• Score: 77/100
• State rank: #74
• US rank: #2860

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment A+ Housing C+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Berkeley, CA
• County: Alameda County · 1,614,355 people
• City population: 121,632
• Metro: San Francisco-Oakland-Berkeley, CA
• Population (ZIP): 19,969
• Household income: $143,398
• Rent vs Own: 46.7% rent · 53.3% own
• Severe rent burden: 860.0

Population outlook (Alameda County) Hauer SSP2

• Today (2025): 1,928,884 people
• By 2030: 2,069,146 · +7.3%
• By 2040: 2,338,405 · +21.2%
• By 2050: 2,586,608 · +34.1%
• By 2075: 3,061,911 · +58.7%
• By 2100: 3,234,133 · +67.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 44% Asian 28% Two or more races 15% Hispanic / Latino 13% Black 3%
• Hispanic origin (detail): Mexican 6% Salvadoran 1%
• Common ancestry: Italian 4% Slovak 2% Romanian 2%
• Foreign-born: 26% · China, Canada, South Korea
• Languages at home: 64% English-only · Chinese 12% Spanish 8% Other Asian/Pacific 6%

Political lean MEDSL · Alameda

• 2024 margin: Solid D (+53.6) · D 74.6% · R 21.0% · Other 4.4%
• 2008→2024 swing: -5.9pp toward R · 2008: 59.5pp · 2024: 53.6pp
• All cycles: 2024: D+53.6 2020: D+62.5 2016: D+64.4 2012: D+59.8 2008: D+59.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1381.08%
• Current HPI: 341.1177
• Rent YoY: ▲ 1.61%
• Metro: San Francisco-Oakland-Berkeley, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+1788.9% since first listed

18 events — show timeline

• 2026-04-30 Listed $2,550,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-03-25 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-01-29 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-01-12 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-10-31 Sold (Public Records) $2,950,000 Public Records
• 2018-10-31 Sold (MLS) $2,950,000 SDMLS
• 2018-10-31 Sold (MLS) $2,950,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-10-31 Sold (MLS) $2,950,000 MLSListings
• 2018-10-31 Sold (MLS) $2,950,000 San Francisco MLS
• 2018-08-10 Pending — MLSListings
• 2018-08-10 Pending — San Francisco MLS
• 2018-07-20 Listed $2,786,000 San Francisco MLS
• 2018-07-19 Listed $2,786,000 SDMLS
• 2018-07-19 Listed $2,786,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2018-07-19 Listed $2,786,000 MLSListings
• 2006-07-14 Listed $1,390,000 San Francisco MLS
• 2006-05-02 Listed $1,430,000 San Francisco MLS
• 1987-12-30 Sold (Public Records) $135,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $57,224 · +18.4% YoY. Source: county tax records.