Multifamily Property in
For Sale
$1,198,000
1535 Julia St, Berkeley, CA 94703
Five-unit multifamily property in a coveted Berkeley location.
Property Size3,499 SF
Price / SF$342.38
Days on Market161
Property Features for 1535 Julia St
General Information
Standard status
Active
Size
3,499 SF
Property subtype
Commercial
Amenities
Gas Heating
Laundry Facility - Coin-Op
Regular
Tandem
Wood Flooring
Building Details
Year Built
1919
Listing Agency:
KITE HILL REAL ESTATE
(855) 450-0442
Listed By:
JATIN MEHTA · License #02045713
Source:
Corcoran
Added: Mar 2
Changed: Aug 8
Last Checked: Apr 5 at 8:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KITE HILL REAL ESTATE
Investment Insights
Based on property information with market context.
The property at 1535 Julia Street is a fully occupied, five-unit multifamily building located in a desirable East Bay rental market. The unit mix includes three one-bedroom units, one two-bedroom unit, and one three-bedroom/two-bath unit, providing diversified cash flow. The property features updated interiors and modern finishes. There is potential for rental upside of approximately 30–40% as units turn. The location is near the Ashby BART Station, providing access to Oakland and San Francisco. The surrounding neighborhood offers walkability, bike infrastructure, and proximity to Berkeley's retail and dining scene. Gas, electric, and water utilities are separately metered.
Key Highlights
- 100% Occupied Five‑Unit Multifamily Property
- Exceptional Unit Mix: featuring (3) 1‑Bed, (1) 2‑Bed, (1) 3‑Bed/2‑Bath
- Estimated 30–40% Rental Upside Potential
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,546
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,390,920
$1.4M
Cap Rate 7%
$993,514
$993.5K
Cap Rate 9%
$772,733
$772.7K
Market Conditions
NOI Build-Up for 3,499 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$133.1K $38.04/SF
− Vacancy
−$6.7K −$1.90/SF
EGI
$126.4K $36.14/SF
− OpEx
−$56.9K −$16.26/SF
NOI
$69.5K $19.88/SF
Area
Berkeley, CA
Vacancy
5.00%
Lease Rate
$38.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,390,920
Cap Rate 7%
$993,514
Cap Rate 9%
$772,733
Alternative Uses
Best Use
Apartment 5plus
$993.5K
$869.3K – $1.16M
NOI $69,546 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.35M
$1.18M – $1.58M
NOI $94,725 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,955
Businesses Nearby
Explore this area
Business Placement
Demographics for 94703, CA
20,805
Population
9,654
Households
2.2
Avg Household Size
37
Median Age
71%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
16,004
Density / Sq Mi
$108,922
Median Household Income
$66,261
Median Earnings
$2,257
Median Rent
$1,273,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit multifamily property in a coveted Berkeley location.
Where is this apartment building located?
The property is located at 1535 Julia St Berkeley, CA.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: 100% Occupied Five‑Unit Multifamily Property; Exceptional Unit Mix: featuring (3) 1‑Bed, (1) 2‑Bed, (1) 3‑Bed/2‑Bath; Estimated 30–40% Rental Upside Potential
