1535 Julia St · Berkeley, CA 94703

$1,198,000

7 bd · 6.0 ba · 3,499 sqft · MultiFamily public records · 111 Days on market

Built 1919 4,480 sqft lot $342/sqft · 12% below area Est $1360k · 12% under

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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 +17.5/30.0
• ARV discount +12.9/15.0
• Schools +5.7/10.0
• DSCR +5.5/10.0
• 1% rule +5.3/10.0
• Livability +3.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

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

To access marketing package copy/paste: https://bit.ly/kitehillre. 1535 Julia Street presents a rare opportunity to acquire a 100% occupied, five-unit multifamily property in one of the East Bay's most coveted and supply-constrained rental markets. The property offers an exceptional unit mix — (3) one-bedroom, (1) two-bedroom, and (1) three-bedroom/two-bath units — delivering immediate, diversified cash flow from day one while appealing to a broad spectrum of renters. With updated interiors and modern finishes throughout, the asset is well-positioned to command premium rents as units turn, with an estimated 30–40% rental upside on the horizon — a compelling value-add runway that sets this offering apart. Ideally situated minutes from Ashby BART Station, residents enjoy direct, seamless access to Oakland and San Francisco, making this a premier transit-oriented location that consistently drives leasing demand. The surrounding neighborhood offers strong walkability, robust bike infrastructure, and proximity to Berkeley's vibrant retail and dining scene — exactly the lifestyle amenities today's renters prioritize. Separately metered gas, electric, and water utilities shift costs to tenants and protect the investor's bottom line.

Key facts

• Updated interiors
• Modern finishes
• Strong walkability

Tags

• FIVE-UNIT MULTIFAMILY PROPERTY
• UPDATED INTERIORS
• MODERN FINISHES
• TRANSIT-ORIENTED LOCATION
• STRONG WALKABILITY
• ROBUST BIKE INFRASTRUCTURE

What this means for you Summary

Snapshot

• This is a 7-bed/6.0-bath multifamily listed at $1.20M.

Deal economics

• At list price, monthly cash flow is $921 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $1.20M).
• Recommended offer: $1.09M (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 (+1.1%/yr); 53 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $12,318/mo this rent would consume 135% of the median local household income ($110k/yr) (locally 1402% 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 $8k of loan paydown is wiped out by about $36k 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 111 days — a 9% lower offer ($1.09M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago; this cycle's ask has dropped $92k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,090,180 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.03% ✓
• Cap rate: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• GRM: 8.1

CMA / ARV

• ARV (median comp): $1,360,340
• List price: $1,198,000
• Delta: -11.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1619 Fairview St	0.32mi	8/4.0 (+1)	3,733 (+7%)	9mo	$1,300,000	$348	53
6563 Shattuck Ave	0.67mi	8/8.0 (+1)	3,432 (-2%)	4mo	$1,350,000	$393	49
1259 Carrison St	0.37mi	8/4.0 (+1)	3,224 (-8%)	11mo	$1,375,000	$426	47
2024 Prince St	0.61mi	6/3.0 (-1)	3,300 (-6%)	17mo	$1,500,000	$455	31
2718 Martin Luther King Jr Way	0.44mi	6/3.0 (-1)	2,987 (-15%)	16mo	$1,775,000	$594	25

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.14% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.53×
• Total profit: $-157,566
• Equity at exit: $178,626

10-year hold

• IRR: -7.7%
• Equity multiple: 0.56×
• Total profit: $-149,032
• Equity at exit: $103,581

Cash invested: $335,440 (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 94703

• Rents YoY: 1.1%
• Active inventory: 53
• Price-to-rent: 43.1×

Monthly cashflow live

• Estimated rent: $12,318 high
• Mortgage (P&I): −$6,282
• Tax from tax record: −$2,028 /mo · $24,339/yr
• Insurance: −$499
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,587
• Net cashflow: $921

Break-even live

Break-even rent $11,152

Max offer price $1,198,000

Occupancy floor 88%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$6,954
1× unit	2	1	$2,444
1× unit	3	2	$2,919
Total (5 units)			$12,318

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: $299,500
• Closing costs: $35,940
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1235 Carrison St Berkeley, CA	6.0	4.0	2332	$1,950	$0.84	44d	1	0.43mi
2227 Carleton St #3 Berkeley, CA	8.0	4.0	2500	$13,500	$5.40	44d	1	0.91mi

Listing history 43 events

1. 2026-06-18
   days on market $1,198,000 Active 111 DOM
2. 2026-06-17
   days on market $1,198,000 Active 110 DOM
3. 2026-06-16
   days on market $1,198,000 Active 109 DOM
4. 2026-06-15
   days on market $1,198,000 Active 108 DOM
5. 2026-06-13
   days on market $1,198,000 Active 106 DOM
6. 2026-06-13
   days on market $1,198,000 Active 105 DOM
7. 2026-06-09
   days on market $1,198,000 Active 102 DOM
8. 2026-06-08
   days on market $1,198,000 Active 101 DOM
9. 2026-06-07
   days on market $1,198,000 Active 100 DOM
10. 2026-06-04
    days on market $1,198,000 Active 97 DOM
11. 2026-06-03
    days on market $1,198,000 Active 96 DOM
12. 2026-06-02
    days on market $1,198,000 Active 95 DOM
13. 2026-06-01
    days on market $1,198,000 Active 94 DOM
14. 2026-05-31
    days on market $1,198,000 Active 93 DOM
15. 2026-04-30
    price $1,198,000 1276-char remark

    Show marketing remark (1276 chars)

    To access marketing package copy/paste: https://bit.ly/kitehillre. 1535 Julia Street presents a rare opportunity to acquire a 100% occupied, five-unit multifamily property in one of the East Bay's most coveted and supply-constrained rental markets. The property offers an exceptional unit mix — (3) one-bedroom, (1) two-bedroom, and (1) three-bedroom/two-bath units — delivering immediate, diversified cash flow from day one while appealing to a broad spectrum of renters. With updated interiors and modern finishes throughout, the asset is well-positioned to command premium rents as units turn, with an estimated 30–40% rental upside on the horizon — a compelling value-add runway that sets this offering apart. Ideally situated minutes from Ashby BART Station, residents enjoy direct, seamless access to Oakland and San Francisco, making this a premier transit-oriented location that consistently drives leasing demand. The surrounding neighborhood offers strong walkability, robust bike infrastructure, and proximity to Berkeley's vibrant retail and dining scene — exactly the lifestyle amenities today's renters prioritize. Separately metered gas, electric, and water utilities shift costs to tenants and protect the investor's bottom line.

16. 2026-03-27
    price $1,225,000 1276-char remark

    Show marketing remark (1276 chars)

    To access marketing package copy/paste: https://bit.ly/kitehillre. 1535 Julia Street presents a rare opportunity to acquire a 100% occupied, five-unit multifamily property in one of the East Bay's most coveted and supply-constrained rental markets. The property offers an exceptional unit mix — (3) one-bedroom, (1) two-bedroom, and (1) three-bedroom/two-bath units — delivering immediate, diversified cash flow from day one while appealing to a broad spectrum of renters. With updated interiors and modern finishes throughout, the asset is well-positioned to command premium rents as units turn, with an estimated 30–40% rental upside on the horizon — a compelling value-add runway that sets this offering apart. Ideally situated minutes from Ashby BART Station, residents enjoy direct, seamless access to Oakland and San Francisco, making this a premier transit-oriented location that consistently drives leasing demand. The surrounding neighborhood offers strong walkability, robust bike infrastructure, and proximity to Berkeley's vibrant retail and dining scene — exactly the lifestyle amenities today's renters prioritize. Separately metered gas, electric, and water utilities shift costs to tenants and protect the investor's bottom line.

17. 2026-02-27
    listed $1,290,000 Active 1276-char remark

    Show marketing remark (1276 chars)

    To access marketing package copy/paste: https://bit.ly/kitehillre. 1535 Julia Street presents a rare opportunity to acquire a 100% occupied, five-unit multifamily property in one of the East Bay's most coveted and supply-constrained rental markets. The property offers an exceptional unit mix — (3) one-bedroom, (1) two-bedroom, and (1) three-bedroom/two-bath units — delivering immediate, diversified cash flow from day one while appealing to a broad spectrum of renters. With updated interiors and modern finishes throughout, the asset is well-positioned to command premium rents as units turn, with an estimated 30–40% rental upside on the horizon — a compelling value-add runway that sets this offering apart. Ideally situated minutes from Ashby BART Station, residents enjoy direct, seamless access to Oakland and San Francisco, making this a premier transit-oriented location that consistently drives leasing demand. The surrounding neighborhood offers strong walkability, robust bike infrastructure, and proximity to Berkeley's vibrant retail and dining scene — exactly the lifestyle amenities today's renters prioritize. Separately metered gas, electric, and water utilities shift costs to tenants and protect the investor's bottom line.

18. 2021-08-18
    soldstatus $1,200,000
19. 2021-06-18
    soldstatus $1,200,000 Sold 608-char remark

    Show marketing remark (608 chars)

    1535 Julia Street is a 5 Unit Property Featuring an Excellent Unit Mix of (3) 1 Bedroom/1Bath Units, (1) 2 Bedroom/1Bath Unit, and (1) 3 Bedroom/2Bath Unit. The Units are Separately Metered For PG & E and Water. Owner Pays Garbage. Some Units Recently Updated with Laminate Flooring, New Cabinetry, New Bathrooms, New Quartz/Granite Countertops, New Paint, and Stainless Steel Appliances. Low Maintenance Property with Immediate Rental Upside. High Demand South Berkeley Rental Market. Excellent Location near Ashby BART Station, Whole Foods , Berkeley Bowl, Shopping, Restaurants and Outdoor Recreation.

20. 2021-06-14
    status Pending (Do Not Show) 608-char remark

    Show marketing remark (608 chars)

    1535 Julia Street is a 5 Unit Property Featuring an Excellent Unit Mix of (3) 1 Bedroom/1Bath Units, (1) 2 Bedroom/1Bath Unit, and (1) 3 Bedroom/2Bath Unit. The Units are Separately Metered For PG & E and Water. Owner Pays Garbage. Some Units Recently Updated with Laminate Flooring, New Cabinetry, New Bathrooms, New Quartz/Granite Countertops, New Paint, and Stainless Steel Appliances. Low Maintenance Property with Immediate Rental Upside. High Demand South Berkeley Rental Market. Excellent Location near Ashby BART Station, Whole Foods , Berkeley Bowl, Shopping, Restaurants and Outdoor Recreation.

21. 2021-03-23
    listed $1,275,000 Active 608-char remark

    Show marketing remark (608 chars)

    1535 Julia Street is a 5 Unit Property Featuring an Excellent Unit Mix of (3) 1 Bedroom/1Bath Units, (1) 2 Bedroom/1Bath Unit, and (1) 3 Bedroom/2Bath Unit. The Units are Separately Metered For PG & E and Water. Owner Pays Garbage. Some Units Recently Updated with Laminate Flooring, New Cabinetry, New Bathrooms, New Quartz/Granite Countertops, New Paint, and Stainless Steel Appliances. Low Maintenance Property with Immediate Rental Upside. High Demand South Berkeley Rental Market. Excellent Location near Ashby BART Station, Whole Foods , Berkeley Bowl, Shopping, Restaurants and Outdoor Recreation.

22. 2020-10-05
    historical
23. 2019-01-17
    historical
24. 2019-01-17
    historical
25. 2019-01-17
    historical
26. 2016-04-22
    soldstatus $855,000
27. 2015-08-03
    historical
28. 2015-08-03
    historical
29. 2015-07-02
    listed New
30. 2015-07-02
    historical
31. 2015-07-01
    listed $865,000
32. 2015-06-25
    price
33. 2015-05-04
    listed New
34. 2015-05-04
    listed $865,000
35. 2015-05-01
    listed $865,000
36. 2005-01-04
    soldstatus $640,000
37. 2004-11-15
    soldstatus $640,000
38. 2004-09-18
    historical
39. 2004-07-12
    listed $599,000
40. 1999-05-05
    soldstatus $30,000
41. 1998-04-20
    soldstatus $195,000
42. 1998-04-20
    soldstatus $240,000
43. 1988-12-09
    soldstatus $225,000

ⓘ 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: $24,339 · $2,028/mo
• Projected year-2 tax: $24,339 · $2,028/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 5/10 Major FEMA zone X (unshaded) · 67% 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: $147,816
• − Mortgage interest: −$67,107
• − Property taxes: −$24,339
• − Insurance: −$5,990
• − Repairs & maintenance: −$11,825
• − Management: −$11,825
• − Depreciation: −$34,851
• Taxable loss: −$8,121
• Est. tax savings @ 24.0%: +$1,949
• After-tax cash flow: $13,006/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): 20,934
• Household income: $109,881
• Rent vs Own: 59.2% rent · 40.8% own
• Severe rent burden: 1402.0

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: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 52% Asian 15% Hispanic / Latino 14% Two or more races 12% Black 12%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Italian 4% Scotch-Irish 4% Romanian 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 11% Other Indo-European 4% Chinese 3%

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: ▼ -1156.26%
• Current HPI: 339.6539
• Rent YoY: ▲ 1.14%
• 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

+432.4% since first listed

29 events — show timeline

• 2026-04-30 Price Changed $1,198,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-03-27 Price Changed $1,225,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2026-02-27 Listed $1,290,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2021-08-18 Sold (Public Records) $1,200,000 Public Records
• 2021-06-18 Sold (MLS) $1,200,000 MLSListings
• 2021-06-14 Pending — MLSListings
• 2021-03-23 Listed $1,275,000 MLSListings
• 2020-10-05 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2019-01-17 Listing Removed — SDMLS
• 2019-01-17 Listing Removed — SDMLS
• 2019-01-17 Listing Removed — SDMLS
• 2016-04-22 Sold (Public Records) $855,000 Public Records
• 2015-08-03 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-08-03 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-07-02 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-07-02 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-07-01 Listed $865,000 SDMLS
• 2015-06-25 Price Changed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-05-04 Listed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2015-05-04 Listed $865,000 SDMLS
• 2015-05-01 Listed $865,000 SDMLS
• 2005-01-04 Sold (Public Records) $640,000 Public Records
• 2004-11-15 Sold (MLS) $640,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-09-18 Listing Removed — bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2004-07-12 Listed $599,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1999-05-05 Sold (Public Records) $30,000 Public Records
• 1998-04-20 Sold (Public Records) $240,000 Public Records
• 1998-04-20 Sold (Public Records) $195,000 Public Records
• 1988-12-09 Sold (Public Records) $225,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $24,339 · +11.8% YoY. Source: county tax records.