296 Lester Ave, Oakland, CA 94606
296 Lester Ave, Oakland, CA 94606
296 Lester Ave, Oakland, CA 94606
10
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$1,895,000
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6,080 SqFt
New

296 Lester Ave Oakland, CA 94606

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Grant Inaba

Grant Inaba

+1(415) 992-2330

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,080 sqft

Price per Sqft $311

Subdivision Lake Merritt

MLS Listing ID 41151543

HOA Y/N No

Year Built 1959

Lot Size 6,000 Sqft

Acres 0.14

Property Sub-Type Multi Family

Property 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.

Location

State CA

County Alameda

Rooms

Basement None

Interior

Heating Forced Air

Cooling None

Flooring Vinyl

Fireplace No

Exterior

View Y/N true

View Lake, City

Total Parking Spaces 6

Building

Lot Description Other

Sewer Public Sewer

Water Public

New Construction No

Others

Tax ID 21227333

Bridge MLS
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Listed by Joseph Owens • Marcus & Millichap

NEARBY SCHOOL & BUSINESS

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Grant Inaba

Grant Inaba

Agent License ID: 01905199

+1(415) 992-2330

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296 Lester Ave

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