Your question is a bit broader than you may think. You really should meet with an estate planning attorney to discuss your goals and desires.
The only real tax consequence immediately is reassessment for property taxes. There is no exclusion for transfers between siblings. As far as gift taxes, so long as you dont exceed your life time exclusion amount of $5.25M there wont be a gift tax. No California gift or estate tax.
There are no realized capital gains tax or income taxes because of the transfer. You brother takes over your basis for future capital gains on sale and depreciation purposes.
If you were to hold your property until death, the property would get a step up in basis including wiping out any recapture issues from prior depreciation.
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Building one colleagues excellent answer, there are ways to make the transfer and retain favorable capital gains treatment, ie step up in basis at your death. See an estate planning attorney and ask him/her about an Irrevocable Income-Only Trust. Kudos for realizing the need for advance planning!
I agree with the previous answers and add that a transfer to your brother's LLC will not reduce or change the tax consequences mentioned.
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