296 Lester Ave Oakland, CA $ 1,895,000
296 Lester Ave
$ 1,895,000
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296 Lester Ave

Oakland, CA, 94606
$ 1,895,000
Bedrooms-- Baths0.0

Monthly Estimate*

$ 13,088

Listed by Joseph Owens, Marcus & Millichap, joe.owens@marcusmillichap.com
296 Lester Ave, Oakland, CA 94606 - Image 1
296 Lester Ave, Oakland, CA 94606 - Image 2
296 Lester Ave, Oakland, CA 94606 - Image 3
296 Lester Ave, Oakland, CA 94606 - Image 4
296 Lester Ave, Oakland, CA 94606 - Image 5
296 Lester Ave, Oakland, CA 94606 - Image 6
296 Lester Ave, Oakland, CA 94606 - Image 7
296 Lester Ave, Oakland, CA 94606 - Image 8
296 Lester Ave, Oakland, CA 94606 - Image 9
296 Lester Ave, Oakland, CA 94606 - Image 10

Multi-Family Home for sale in Oakland, CA

for $1,895,000. This home was built in 1959 on a lot size of 0.1377.

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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Multi-Family Active

Price

$ 1,895,000

Property Type

Multi-Family

Taxes

$ 31,711

Style

Lot Size

0.1377

Year Built

1959

Town/City

Oakland

County/Region

Alameda

MLS | Web ID

41151543

Days on Market

2

Features
General
Heating Forced Air
Cooling None
HOA Fee 0
Construction Materials Wood Siding
Year Built 1959
Tenant Pays Gas
View Lake
County Alameda
Net Operating Income 118092
Property Type Residential Income
Subdivision Name LAKE MERRITT
Status Active
Directions Cross Street: Hanover Ave.
City Oakland
Number Of Units Total 8
Lot Size Units Square Feet
Lot Size Square Feet 6000
Tax Annual Amount 31711
Standard Status Active
Cap Rate 6.23
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Interior
Air Conditioning Y/N true
Heating Y/N true
Total Baths 0
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Exterior
Total Parking 6
Lot Size Area 6000
Lot Size Acres 0.1377
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* Excluded Features
List By
Joseph Owens

Listing Agent

Marcus & Millichap

Broker

joe.owens@marcusmillichap.com

Email

Affordability Calculator

$15,731
Per Month
83%
17%
0%
Monthly Principal & Interest
$13,088
Monthly Property Taxes
$2,643
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
10/17/2026$1,895,000 Listed Price

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296 Lester Ave, Oakland, CA, 94606 is a Multi-Family Home for sale at $1,895,000 with a lot size of 0.1377. 296 Lester Ave has 0.0 baths and was built in 1959. The property's zip code is 94606 which is in Oakland, CA