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Listed by: Joseph Owens (925) 808-9098 DRE #01707768 | Marcus & Millichap (510) 379-1200
$1,895,000
Monthly Est:$9,432
-- Bed
-- Bath
--sqft
296 Lester Ave, Oakland, CA 94606
$1,895,000
$9,432/moEst:
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Multi Family
Built in 1959
$-- HOA
6,000 sqft lot
--/sqft
Description
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.
- Houzeo last checked: 9 minutes ago
- Listing updated: October 25, 2026 at 3:28 am
- Source: California Regional MLS-CA | MLS#: 41151543
Property Details
Status
Pending
Type
Multi Family
No. of Stories
-
County
City
Neighborhood
Year Built
1959
HOA Fees
-
Finished Area
- sqft
Lot Size
6,000 sqft lot
Basement Area
- sqft
MLS Name
California Regional MLS
MLS Number
41151543
MLS Status
Pending
Days on Market
18
Cumulative Days on Market
8
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedroom: --
Bathroom: --
Interior
Cooling
None
Heating
Forced Air
Construction
Year Built
Year Built: 1959
Home type
Multi Family
Construction Materials
Wood Siding
Other Features
Subdivision Name
Lake Merritt
Tenant Pays
Gas
Price History
| Date | Event | Price |
|---|---|---|
10/23/2026 Source: | Pending | $1,895,000 $0/sqft |
10/15/2026 Source: | Listed for Sale | $1,895,000 $0/sqft |
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Based on information from California Regional Multiple Listing Service, Inc. as of Nov 04, 2026, 05:45AM and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. © 2026 California Regional Multiple Listing Service. All Rights Reserved.
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