296 Lester Ave, Oakland, CA 94606

Oakland
Local realty services provided by:ERA North Orange County Real Estate
296 Lester Ave,Oakland, CA 94606
$1,895,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: joseph owens
Office: marcus & millichap510-379-1200
MLS#:41151543
Source:CRMLS

Price summary

  • Price:$1,895,000

About this home

Eight 2BR/1BA units near Lake Merritt offering a 6.23% current cap rate and 8.20% at market rents. Average scheduled rent of $2,186 trails the $2,600 market rent by 18.9%. Six of eight units are renovated, and one vacant unit is scheduled at market. Oakland rents rose 13.0% year over year as of July 2026 (Apartment List), second-fastest among the 100 largest U.S. cities, as San Francisco's AI-driven rent surge pushes renters east. Current NOI $118,092; NOI at market rents $155,330.

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Home facts

  • Year built:1959
  • Subdivision & Development:LAKE MERRITT
  • Listing ID #:41151543
  • Added:5 day(s) ago
  • Updated:October 22, 2026 at 11:17 AM

Heating and cooling

  • Heating:Forced Air

Structure and exterior

  • Year built:1959
  • Lot area:0.14 Acres
  • Construction Materials:Wood Siding

Finances and disclosures

  • Price:$1,895,000
  • Tax amount:$31,711

Parking

  • Total parking spaces:6
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