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296 Lester Ave Oakland, CA $ 1,895,000
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$ 1,895,000 Get more info
296 Lester Ave
$ 1,895,000
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296 Lester Ave

Oakland, CA, 94606
$ 1,895,000
Bedrooms2 Baths-- Sq 6,080

Monthly Estimate*

$ 13,088

296 Lester Ave, Oakland, CA 94606 - Image 1
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296 Lester Ave, Oakland, CA 94606 - Image 10

Commercial Property for sale in Oakland, CA

for $1,895,000 with 2 bedrooms. This 6,080 square foot building was built in 1959 on a lot size of 0.14.

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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Commercial Active

Price

$ 1,895,000

Bedrooms

2

Property Type

Commercial

Taxes

$ 0

Style

5 or More Units

Lot Size

0.14

Year Built

1959

Town/City

Oakland

County/Region

Alameda

MLS | Web ID

41151543
Features
General
Living Area 6080
Heating Forced Air
Cooling None
Roof Flat
Construction Materials Frame Siding - Stucco
Year Built 1959
View Lake City
Property Subtype 5 or More Units
County Alameda
Property Type Commercial Sale
HOA false
Subdivision Name Lake Merritt
Garage Y/N false
Status New
Directions East of Lake Merritt on Lester Ave between Acton Pl / Hanover Ave
City Oakland
MLS Area Listing
Lot Size Square Feet 6000
Standard Status Active
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Interior
Flooring Vinyl
Air Conditioning Y/N false
Heating Y/N true
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Exterior
Parking Features Covered
Lot Features Other
Water Source Public
Lot Size Area 6098.4
Building Area Total 6080
Lot Size Acres 0.14
Other Equipment None
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* Excluded Features
List By
Joseph Owens

Listing Agent

Marcus & Millichap

Broker

joe.owens@marcusmillichap.com

Email

Affordability Calculator

$13,088
Per Month
100%
0%
0%
Monthly Principal & Interest
$13,088
Monthly Property Taxes
--
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
0 Middle School
Unknown High School High School
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Pricing History
DatePricePrice ChangeDescription
10/17/2026$1,895,000 Listed Price

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296 Lester Ave, Oakland, CA, 94606 is a Commercial Property for sale at $1,895,000 with 6,080 sqft and a lot size of 0.14. 296 Lester Ave has 2 bedroomsThe property's zip code is 94606 which is in Oakland, CA

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