7448 Lockwood St, Oakland, California 94621, Oakland, 94621 - bed, bath
ACTIVE$899,000
7448 Lockwood St, Oakland, California 94621
0Bed
0Bath
Sqft
10,000Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Strong Income Potential: A fourplex with four 2-bedroom units, explicitly marketed as an 'income-producing' and 'strong cash-flowing asset' in a high-demand rental market.
Top Cons:
Property Age & Potential CAPEX: Built in 1957, the property is older and may require significant capital expenditures for system upgrades or major renovations in the near future, despite being 'well-maintained.'
Compared to the nearby listings
Price:$899.0K vs avg $647.5K (+$251,500)88%
Size: sqft vs avg sqft50%
Price/sqft:$0 vs avg $050%
More Insights
Built in 1957 (68 years old).
Condition: The property was built in 1957, making it over 20 years old. While the description states it is 'well-maintained' and some units feature newer laminate flooring and stainless steel kitchen appliances, many elements appear outdated. The kitchens have older-style white cabinets, granite-look countertops, and basic tiled floors. Light fixtures are simple flush-mount domes, and heating is provided by wall-mounted units, indicating a lack of modern central HVAC. The exterior and common areas like the laundry room also show their age with utilitarian finishes. These factors suggest the property has undergone regular upkeep and some cosmetic updates, but not a comprehensive renovation within the last 15 years, aligning with the 'Fair' condition criteria where major components are functional but show signs of being outdated and minor updates or repairs are required.
Year Built
1957
Close
-
List price
$899K
Original List price
$950K
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41097428
Home ConditionFair
Features
View-
About this home
Welcome to 7448 Lockwood Street, a spacious and income-producing fourplex located in the heart of East Oakland. This well-maintained property features four 2-bedroom, 1-bath units, each offering approximately 885 square feet of comfortable living space. Each unit is separately metered for gas, electricity, and water, providing convenience and flexibility for both owner and tenants. A detached on-site laundry room adds an additional income stream. Situated on a large, flat 10,000 sq ft lot, this property offers development potential—build additional units or expand to maximize your return (buyer to verify). Conveniently located near Highways 580 and 880 and just minutes from the Eastmont Town Center, this property is a prime location for tenants and commuters alike. Don't miss this exceptional opportunity to own a strong cash-flowing asset with upside potential in one of Oakland’s high-demand rental markets.
Condition Rating
Fair
The property was built in 1957, making it over 20 years old. While the description states it is 'well-maintained' and some units feature newer laminate flooring and stainless steel kitchen appliances, many elements appear outdated. The kitchens have older-style white cabinets, granite-look countertops, and basic tiled floors. Light fixtures are simple flush-mount domes, and heating is provided by wall-mounted units, indicating a lack of modern central HVAC. The exterior and common areas like the laundry room also show their age with utilitarian finishes. These factors suggest the property has undergone regular upkeep and some cosmetic updates, but not a comprehensive renovation within the last 15 years, aligning with the 'Fair' condition criteria where major components are functional but show signs of being outdated and minor updates or repairs are required.
Pros & Cons
Pros
Strong Income Potential: A fourplex with four 2-bedroom units, explicitly marketed as an 'income-producing' and 'strong cash-flowing asset' in a high-demand rental market.
Significant Development Upside: The large, flat 10,000 sq ft lot offers explicit potential to 'build additional units or expand,' providing substantial future value appreciation.
Operational Efficiency: Each unit is separately metered for gas, electricity, and water, simplifying tenant billing and reducing the owner's utility management burden.
Additional Revenue Stream: A detached on-site laundry room provides an extra income source, enhancing the property's overall profitability.
Strategic Location: Conveniently located in East Oakland with excellent access to Highways 580 and 880 and minutes from Eastmont Town Center, appealing to commuters and tenants.
Cons
Property Age & Potential CAPEX: Built in 1957, the property is older and may require significant capital expenditures for system upgrades or major renovations in the near future, despite being 'well-maintained.'
Unverified Development Potential: The 'buyer to verify' clause for development potential implies additional due diligence, costs, and uncertainty regarding the feasibility and scope of expansion.
Recent Price Reduction: A recent price drop from $950,000 to $899,000 could suggest initial overpricing or market resistance, potentially indicating a need for further negotiation or a slower sales cycle.