7231 Lockwood St, Oakland, California 94621, Oakland, 94621 - bed, bath
ACTIVE$795,000
7231 Lockwood St, Oakland, California 94621
0Bed
0Bath
Sqft
2,400Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Income-Generating Asset: The property is a fourplex (quadruplex) with four 1-bedroom/1-bath units, explicitly categorized as 'Residential Income,' offering diversified rental income streams.
Top Cons:
Small Lot Size: With a lot size of only 2400 sqft for a fourplex, outdoor space is very limited, and future expansion potential is minimal.
Compared to the nearby listings
Price:$795.0K vs avg $647.5K (+$147,500)75%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%
More Insights
Built in 1959 (66 years old).
Condition: Despite being built in 1959, the property has undergone significant 'modern updates' as stated in the description and evidenced by the images. The kitchens feature updated wood-toned cabinetry, granite/stone countertops, tiled backsplashes, and tiled flooring. While the appliances are white, they appear functional and in good condition. Bathrooms also show updated vanities, countertops, and tiled floors. The overall interior is clean, well-maintained, and move-in ready with no immediate renovations required. This aligns with the 'Good' score criteria, indicating a property that has been extensively renovated within the last 5-15 years, making its systems well-maintained and functional.
Year Built
1959
Close
-
List price
$795K
Original List price
$850K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41090373
Home ConditionGood
Features
View-
About this home
Located in Oakland's Hegenberger neighborhood, 7231 Lockwood Street is a well-maintained fourplex offering both comfort and convenience. The property features multiple units, each designed with modern updates to enhance tenant living experiences. Four one bedroom/one bath units. Separately metered for PG&E and water. Open
Nearby schools
2/10
Markham Elementary School
Public,•K-5•0.2mi
2/10
Futures Elementary School
Public,•K-5•0.6mi
2/10
Community United Elementary School
Public,•K-5•0.6mi
2/10
Frick Middle School
Public,•6-8•0.6mi
1/10
Roots International Academy
Public,•6-8•0.7mi
3/10
Coliseum College Prep Academy
Public,•6-12•0.7mi
1/10
Castlemont High
Public,•9-12•1.0mi
2/10
Fremont High
Public,•9-12•1.7mi
2/10
Oakland International High School
Public,•9-12•6.5mi
Condition Rating
Good
Despite being built in 1959, the property has undergone significant 'modern updates' as stated in the description and evidenced by the images. The kitchens feature updated wood-toned cabinetry, granite/stone countertops, tiled backsplashes, and tiled flooring. While the appliances are white, they appear functional and in good condition. Bathrooms also show updated vanities, countertops, and tiled floors. The overall interior is clean, well-maintained, and move-in ready with no immediate renovations required. This aligns with the 'Good' score criteria, indicating a property that has been extensively renovated within the last 5-15 years, making its systems well-maintained and functional.
Pros & Cons
Pros
Income-Generating Asset: The property is a fourplex (quadruplex) with four 1-bedroom/1-bath units, explicitly categorized as 'Residential Income,' offering diversified rental income streams.
Separately Metered Utilities: PG&E and water are separately metered for each unit, significantly reducing landlord operating expenses and administrative burden.
Modern Updates & Well-Maintained: The description highlights the property as 'well-maintained' with 'modern updates' in each unit, suggesting reduced immediate capital expenditure for a new owner.
Price Reduction: The list price has seen significant reductions from $850,000 to $795,000, indicating potential value for buyers or a motivated seller.
Established Neighborhood: Located in Oakland's Hegenberger neighborhood, the property benefits from being in a major metropolitan area with consistent rental demand.
Cons
Small Lot Size: With a lot size of only 2400 sqft for a fourplex, outdoor space is very limited, and future expansion potential is minimal.
Older Building Age: Built in 1959, the property is over 60 years old. While updated, older core systems (plumbing, electrical, roof) may require more frequent or costly maintenance in the long term.
Lower-Rated Schools: Several nearby schools have low ratings (1s and 2s), which could impact desirability for families and potentially affect long-term property value appreciation in a residential context.