1612 Parker St · Berkeley, CA 94703

$2,750,000

19 bd · 10.0 ba · 9,205 sqft · MultiFamily public records · 524 Days on market

Built 1964 9,163 sqft lot $299/sqft · 16% below area Est $3257k · 16% 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 +15.6/30.0
• ARV discount +14.5/15.0
• Schools +5.7/10.0
• DSCR +4.8/10.0
• 1% rule +4.2/10.0
• 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: 8 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

Discover a rare chance to own a stunning 8-unit building in one of Berkeley's most desirable neighborhoods! This well-maintained property exudes pride of ownership and is set on a generous lot that features five reserved parking spots and a convenient community laundry area. Each of the 8 units offers spacious 2-bedroom, 1-bathroom layouts, perfect for a variety of tenants. Several units have been tastefully updated, adding modern touches while retaining their classic charm. Additionally, the property includes a non-conforming manager's unit, providing extra flexibility for onsite management or additional rental income*. Some units also have additional storage and balconies. This is not just an investment; it’s an opportunity to be a part of the rich tapestry of Berkeley, a city known for its eclectic mix of cultures, progressive spirit, and unparalleled intellectual vibrancy. Don’t miss your chance to own a fabulous building in this iconic city—opportunities like this are truly one-of-a-kind! Cap Rate of 6% - Huge upside potential. *Neither seller nor listing agent has investigated or verified the accuracy of any of these sources of information. Buyer must conduct their own investigation with the city and appropriate boards and rely solely on that investigation.

Key facts

• 8 unit building
• Balconies
• Additional storage

Tags

• 8 UNIT BUILDING
• RESERVED PARKING SPOTS
• COMMUNITY LAUNDRY AREA
• ADDITIONAL STORAGE
• BALCONIES

What this means for you Summary

Snapshot

• This is a 8 × 2-bed/1-bath units multifamily listed at $2.75M.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $142/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $2.54M (7.5% below list).
• Recommended offer: $2.42M (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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); 55 active listings in the ZIP; solid renter incomes; 1,742 units permitted in Alameda County in 2024 (856 in 5+ unit buildings).
• At $25,427/mo this rent would consume 278% 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 $19k of loan paydown is wiped out by about $82k 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 524 days — a 12% lower offer ($2.42M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $325k; list at $2.75M implies a 746% gain — meaningful room to come down on a strong offer.

Recommended offer $2,420,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 524 days. Have you received any prior offers? Is the seller open to a 12% 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 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.92% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.77%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (median comp): $3,257,398
• List price: $2,750,000
• Delta: -15.58%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.6%
• Equity multiple: 0.46×
• Total profit: $-419,643
• Equity at exit: $410,034

10-year hold

• IRR: -10.6%
• Equity multiple: 0.41×
• Total profit: $-455,522
• Equity at exit: $237,770

Cash invested: $770,000 (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 94703

• Rents YoY: 1.1%
• Active inventory: 55
• Price-to-rent: 72.1×

Monthly cashflow live

• Estimated rent: $25,427 high
• Mortgage (P&I): −$14,421
• Tax from tax record: −$3,384 /mo · $40,612/yr
• Insurance: −$1,146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$5,340
• Net cashflow: $1,136

Break-even live

Break-even rent $23,989

Max offer price $2,750,000

Occupancy floor 91%

Sensitivity live

Price	-10% $2,693	-5% $1,914	+0% $1,136	+5% $358	+10% $-421
Rent	-10% $-873	-5% $132	+0% $1,136	+5% $2,140	+10% $3,145
Rate	-1.0pp $2,521	-0.5pp $1,835	base $1,136	+0.5pp $423	+1.0pp $-302

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

Units	Beds	Baths	Est. rent
▸ 8× units	2	1	$25,424
Total (8 units)			$25,427

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: $687,500
• Closing costs: $82,500
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $2,750,000 Active 524 DOM
2. 2026-06-18
   days on market $2,750,000 Active 521 DOM
3. 2026-06-17
   days on market $2,750,000 Active 520 DOM
4. 2026-06-16
   days on market $2,750,000 Active 519 DOM
5. 2026-06-15
   days on market $2,750,000 Active 518 DOM
6. 2026-06-13
   days on market $2,750,000 Active 516 DOM
7. 2026-06-13
   days on market $2,750,000 Active 515 DOM
8. 2026-06-09
   days on market $2,750,000 Active 512 DOM
9. 2026-06-08
   days on market $2,750,000 Active 511 DOM
10. 2026-06-07
    days on market $2,750,000 Active 510 DOM
11. 2026-06-04
    days on market $2,750,000 Active 507 DOM
12. 2026-06-03
    days on market $2,750,000 Active 506 DOM
13. 2026-06-02
    days on market $2,750,000 Active 505 DOM
14. 2026-06-01
    days on market $2,750,000 Active 504 DOM
15. 2026-05-31
    days on market $2,750,000 Active 503 DOM
16. 2026-03-03
    price $2,750,000 1302-char remark

    Show marketing remark (1302 chars)

    Discover a rare chance to own a stunning 8-unit building in one of Berkeley's most desirable neighborhoods! This well-maintained property exudes pride of ownership and is set on a generous lot that features five reserved parking spots and a convenient community laundry area. Each of the 8 units offers spacious 2-bedroom, 1-bathroom layouts, perfect for a variety of tenants. Several units have been tastefully updated, adding modern touches while retaining their classic charm. Additionally, the property includes a non-conforming manager's unit, providing extra flexibility for onsite management or additional rental income*. Some units also have additional storage and balconies. This is not just an investment; it’s an opportunity to be a part of the rich tapestry of Berkeley, a city known for its eclectic mix of cultures, progressive spirit, and unparalleled intellectual vibrancy. Don’t miss your chance to own a fabulous building in this iconic city—opportunities like this are truly one-of-a-kind! Cap Rate of 6% - Huge upside potential. *Neither seller nor listing agent has investigated or verified the accuracy of any of these sources of information. Buyer must conduct their own investigation with the city and appropriate boards and rely solely on that investigation.

17. 2025-01-13
    listed $2,875,000 Active 1302-char remark

    Show marketing remark (1302 chars)

    Discover a rare chance to own a stunning 8-unit building in one of Berkeley's most desirable neighborhoods! This well-maintained property exudes pride of ownership and is set on a generous lot that features five reserved parking spots and a convenient community laundry area. Each of the 8 units offers spacious 2-bedroom, 1-bathroom layouts, perfect for a variety of tenants. Several units have been tastefully updated, adding modern touches while retaining their classic charm. Additionally, the property includes a non-conforming manager's unit, providing extra flexibility for onsite management or additional rental income*. Some units also have additional storage and balconies. This is not just an investment; it’s an opportunity to be a part of the rich tapestry of Berkeley, a city known for its eclectic mix of cultures, progressive spirit, and unparalleled intellectual vibrancy. Don’t miss your chance to own a fabulous building in this iconic city—opportunities like this are truly one-of-a-kind! Cap Rate of 6% - Huge upside potential. *Neither seller nor listing agent has investigated or verified the accuracy of any of these sources of information. Buyer must conduct their own investigation with the city and appropriate boards and rely solely on that investigation.

18. 1994-11-18
    soldstatus $325,000

ⓘ 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: $40,612 · $3,384/mo
• Projected year-2 tax: $40,612 · $3,384/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: $305,124
• − Mortgage interest: −$154,043
• − Property taxes: −$40,612
• − Insurance: −$13,750
• − Repairs & maintenance: −$24,410
• − Management: −$24,410
• − Depreciation: −$80,000
• Taxable loss: −$32,100
• Est. tax savings @ 24.0%: +$7,704
• After-tax cash flow: $21,335/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

+746.2% since first listed

3 events — show timeline

• 2026-03-03 Price Changed $2,750,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 2025-01-13 Listed $2,875,000 bridgeMLS, Bay East AOR, or Contra Costa AOR
• 1994-11-18 Sold (Public Records) $325,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $40,612 · +40.9% YoY. Source: county tax records.