| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 88th | Best |
| Amenities | 64th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1539 Martin Luther King Jr Way, Berkeley, CA, 94709, US |
| Region / Metro | Berkeley |
| Year of Construction | 1973 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1539 Martin Luther King Jr Way Berkeley Multifamily Investment
High-cost home ownership in North Berkeley sustains a deep renter pool, supporting durable demand near transit and amenities, according to WDSuite’s CRE market data. Expect stable leasing fundamentals with potential to optimize operations in a supply-constrained Urban Core location.
This Urban Core neighborhood in Berkeley combines daily convenience with strong renter demand drivers. Neighborhood amenity access is a relative strength: parks density sits in the top quartile nationally, and both restaurants and grocery options are competitive versus metros across the country. Cafés are plentiful as well. By contrast, on-the-doorstep childcare and pharmacy options are limited, which may influence the resident mix and service needs.
Ownership costs are elevated for the neighborhood (home values rank among the highest nationally), which reinforces reliance on multifamily rentals and supports pricing power and lease retention. Neighborhood rents have risen over the past five years and are projected to continue advancing, while rent-to-income levels remain manageable for many higher-earning households, supporting occupancy stability.
Tenure patterns indicate a meaningful share of renter-occupied units in the neighborhood, signaling a larger tenant base and depth for multifamily leasing. While neighborhood occupancy is closer to national norms and below the metro median, demand is supported by proximity to jobs, transit, and services, helping properties compete on location and convenience.
Within a 3-mile radius, demographics show modest population growth alongside an increase in households and a projected decrease in average household size over the next five years. This points to more households competing for rental units and supports absorption for smaller formats. Household incomes in the 3-mile area are high and rising, expanding the qualified renter pool and supporting rent levels typical of North Berkeley. The neighborhood’s average NOI per unit ranks in a top national percentile, per WDSuite, underscoring revenue potential for well-managed assets; these statistics reflect the neighborhood, not this specific property.
The property’s 1973 vintage is newer than the neighborhood’s older housing stock, offering relative competitiveness versus prewar buildings. Investors should still plan for modernization of aging systems and potential value-add upgrades to align finishes and efficiency with renter expectations.
Safety conditions in this neighborhood compare less favorably to many Oakland–Berkeley–Livermore metro peers, with crime ranks positioned in the lower tiers among 469 metro neighborhoods. Nationally benchmarked percentiles indicate below-average safety relative to U.S. neighborhoods, so investors should underwrite appropriate security, lighting, and access controls, along with tenant communication and insurance considerations.
Recent year-over-year estimates show increases in both violent and property offenses at the neighborhood level. While these metrics do not predict outcomes for an individual asset, they suggest prudent focus on property-level measures, partnership with local resources, and lease management practices that support resident retention.
Proximity to established corporate headquarters supports a steady professional renter base and commute convenience for residents. The nearby employment mix includes consumer products, retail, cloud software, financial services, and utilities—each represented by major employers listed below.
- Clorox — consumer products (5.2 miles) — HQ
- Gap — retail apparel (8.8 miles) — HQ
- Salesforce.com — cloud software (8.8 miles) — HQ
- Charles Schwab — financial services (8.9 miles) — HQ
- PG&E Corp. — utilities (9.0 miles) — HQ
1539 Martin Luther King Jr Way sits in a North Berkeley Urban Core location where high home values reinforce sustained multifamily demand and support rent levels. Neighborhood occupancy is near national norms but below the metro median; depth of the renter pool, professional employment access, and daily amenities help underpin leasing stability. Based on CRE market data from WDSuite, the neighborhood’s income profile and amenity density are favorable, while the property’s 1973 vintage offers room for targeted upgrades to enhance competitiveness versus older stock.
Within a 3-mile radius, steady population growth, rising household counts, and a projected shift toward smaller households indicate a larger tenant base for smaller formats over time. Investors can target value-add through system modernization and finish upgrades, while underwriting for responsible security practices given neighborhood safety benchmarks.
- Urban Core location with high-cost ownership market supporting multifamily demand and rent levels
- 3-mile demographics point to more households and a growing renter pool, aiding absorption
- 1973 vintage offers modernization/value-add potential versus older neighborhood stock
- Access to major HQ employment centers supports professional tenant retention
- Risk: below-metro safety benchmarks and limited nearby childcare/pharmacy warrant prudent security and amenity planning