Oakland Fourplex with Development
For Sale
$899,000
7448 Lockwood St, Oakland, CA 94621
MULTI_FAMILY - Oakland, CA
Property Size3,560 SF
Lot Size0.23 Acres
Price / SF$252.53
Days on Market446
Property Features for 7448 Lockwood St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 4, Bathroom 7, Bedroom 8, Bedroom 2, Bathroom 2, Bathroom 6, Bedroom 6, Bedroom 1, Bathroom 1, Bedroom 5, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 7, Bathroom 5
Appliances
Gas Water Heater
Subdivision
Oakland
Lot features
Rectangular Lot
Directions
Off 73rd, turn onto Lockwood..
Standard status
Active
Size
3,560 SF
Lot size
0.23 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Wall Furnace
Water source
Public
Building Details
Year built
1957
Number of units
4
Flooring type
Carpet, Tile, Linoleum, Laminate
Building materials
Stucco
Roof type
Flat
Listing Agency:
Keller Williams Tri-Valley · Keller Williams Realty
(925) 397-4200
Listed By:
Jason Pugao · License #01908325
(510) 472-6916
Added: May 14, 2025
Changed: Jul 29
Last Checked: Aug 2 at 9:06AM
MLS# 41097428
Copyright © 2026 Bay East. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in East Oakland, 7448 Lockwood Street is a fourplex featuring four units, each with two bedrooms and one bathroom. Each unit provides approximately 885 square feet of living space. The property is situated on a flat 10,000 square foot lot that offers development potential for building additional units or expansion, subject to buyer verification. Each unit is separately metered for gas, electricity, and water. An on-site detached laundry room provides an additional income stream. The property is conveniently located near Highways 580 and 880, and is just minutes from the Eastmont Town Center. The property represents an opportunity to own a cash-flowing asset with upside potential in Oakland's rental market. The total property size is 3,560 square feet, situated on a 0.2296-acre lot.
Key Highlights
- Fourplex with four 2‑bedroom, 1‑bath units, each with approximately 885 SF
- Each unit is separately metered for gas, electricity, and water
- Detached on‑site laundry room provides an additional income stream
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $121.8k | $34.20 |
| − Vacancy | −$5.2k | −$1.46 |
| EGI | $116.6k | $32.74 |
| − OpEx | −$35.0k | −$9.82 |
| NOI | $81.6k | $22.92 |
3,560 SF · lease $34.20/SF/yr · vacancy 4.27% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.36M
NOI $81,587 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$1.07M
$939.6K – $1.25M
NOI $75,170 @ 7.0% cap · market cap 8.36%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Yes
Utilities to site
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?
Quadplex - Spacious fourplex in East Oakland with income and development potential.
Where is this quadplex located?
The property is located at 7448 Lockwood St Oakland, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Fourplex with four 2‑bedroom, 1‑bath units, each with approximately 885 SF; Each unit is separately metered for gas, electricity, and water; Detached on‑site laundry room provides an additional income stream
