Property photo 1
Property photo 2
Property photo 3
Property photo 4
Property photo 5
0 Baths

$1,895,000

296 Lester Ave, Oakland CA, 94606

Price per sqftN/A
Built in1959
Property typeResidential

Overview

Active

Listed Oct 16, 2026

Updated 1h ago

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.

$12,607/mo

Est. mortgage payment based on a $1,895,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
41151543

Interior Features

Bathrooms
0
Cooling
Yes
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.14 Acres

Other Property Details

Taxes
$31,711
Tax Frequency
Annually
View
Yes

Listed by Joseph Owens, Marcus & Millichap, CA DRE 01707768

Listing Contact: 925-808-9098 

Based on information from the CRISNet MLS as of 10/23/2026, 8:53 AM UTC. 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. The 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.

©2026 CRISNet MLS. All rights reserved. 

Powered by Luxury Presence