7106 Lockwood St, California, Oakland, - bed, bath
ACTIVE$749,999
7106 Lockwood St, California
0Bed
0Bath
Sqft
4,880Lot
Year Built
1930
Close
-
List price
$750K
Original List price
$750K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
40833196
Home ConditionPoor
Features
View-
About this home
Centrally located triplex for your next investment adventure. This property is fully occupied at close to market value. 2 units with 2 beds 1 bath. 1 unit 1 bed 1 bath situated on almost a 5000 SF lot. Buyer to verifly lot size. Built in 1930. Each unit is equipped with a washer/dryer, stove and refrigerator. property has tandem driveway and two car garage currently being used for storage, but has potential for another unit.
Price History
Date
Event
Price
08/04/18
Listing
$749,999
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (7 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 0 | 0 | |
| Lot Size | 4,880 | 4,940 | 50% |
| Price | $750K | $665K | 63% |
| Price per square foot | $0 | $0 | |
| Built year | 1930 | 9700978 | 25% |
| HOA | |||
| Days on market | 2650 | 199 | 88% |
Condition Rating
Poor
Built in 1930, this triplex shows significant signs of age and deferred maintenance. The exterior features faded and peeling paint, old windows, a worn chain-link fence, and a cracked driveway. The presence of window AC units suggests outdated cooling systems. While currently occupied, indicating it's livable, the overall condition points to a property requiring substantial repairs and rehabilitation, especially given the lack of any mentioned renovations and the absence of interior photos for kitchens and bathrooms, which are likely very dated and in need of full modernization.
Pros & Cons
Pros
Strong Income Potential: The property is a fully occupied triplex generating income at close to market value, making it an attractive investment opportunity.
Central Location: Described as 'centrally located,' which typically offers convenient access to amenities, transportation, and a strong tenant pool.
Value-Add Opportunity: The two-car garage, currently used for storage, presents significant potential for conversion into an additional income-generating unit.
Tenant-Ready Units: Each unit is equipped with essential appliances including a washer/dryer, stove, and refrigerator, enhancing tenant appeal and reducing landlord setup costs.
Diversified Income Stream: As a triplex, it offers multiple rental units, providing a diversified income stream and mitigating vacancy risk compared to single-unit properties.
Cons
Advanced Property Age: Built in 1930, the property is over 90 years old, suggesting potential for outdated systems (plumbing, electrical) and significant deferred maintenance or renovation needs.
Extended Time on Market: The property has been listed since August 2018, indicating potential challenges with pricing, condition, or marketability that have prevented a sale for an extended period.
Unverified Lot Size: The description explicitly states 'Buyer to verify lot size,' which could imply potential discrepancies or require additional due diligence, adding uncertainty for prospective buyers.