Tenant-Occupied
For Sale
$399,999
7341 Lockwood St, Oakland, CA 94621
Two occupied units and a gated entry support the property’s existing residential configuration.
Property Size1,414 SF
Price / SF$282.88
Days on Market259
Property Features for 7341 Lockwood St
General Information
Standard status
Active
Size
1,414 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Amenities
gated entrance
Building Details
Year Built
1922
Listing Agency:
BCRE
Listed By:
Edder Barcenas-Cortez · License #02152984
(510) 206-6526
Source:
Exitrealty
Added: Dec 20, 2025
Changed: Sep 3
Last Checked: Aug 31 at 5:28PM
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 BCRE
Investment Insights
Based on property information with market context.
Built in 1922, this 1,414-square-foot duplex contains two tenant-occupied units and has received partial updates. A gated entrance provides controlled access to the property.
The sewer lateral work is complete, with current compliance documented for approximately 10 years. Located at 7341 Lockwood St in Oakland, the property offers an established two-unit residential income configuration.
The sewer lateral work is complete, with current compliance documented for approximately 10 years. Located at 7341 Lockwood St in Oakland, the property offers an established two-unit residential income configuration.
Key Highlights
- Two tenant‑occupied units
- 1,414 square feet across the duplex
- Built in 1922
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
$32,406
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
8.10%
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%
$648,120
$648.1K
Cap Rate 7%
$462,943
$462.9K
Cap Rate 9%
$360,067
$360.1K
Market Conditions
NOI Build-Up for 1,414 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
$48.4K $34.20/SF
− Vacancy
−$2.1K −$1.46/SF
EGI
$46.3K $32.74/SF
− OpEx
−$13.9K −$9.82/SF
NOI
$32.4K $22.92/SF
Area
Oakland, CA
Vacancy
4.27%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
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%
$648,120
Cap Rate 7%
$462,943
Cap Rate 9%
$360,067
Alternative Uses
Best Use
Multifamily LT 5
$462.9K
$405.1K – $540.1K
NOI $32,406 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$426.5K
$373.2K – $497.6K
NOI $29,857 @ 7.0% cap · market cap 7.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Explore this area
Business Placement
Demographics for 94621, CA
35,816
Population
11,078
Households
3.2
Avg Household Size
32
Median Age
13%
College-Educated
67%
High-School Grad
8.5 sq mi
ZIP Area
4,214
Density / Sq Mi
$53,106
Median Household Income
$35,199
Median Earnings
$1,527
Median Rent
$537,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units and a gated entry support the property’s existing residential configuration.
Where is this duplex located?
The property is located at 7341 Lockwood St Oakland, CA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Two tenant‑occupied units; 1,414 square feet across the duplex; Built in 1922
