6,080 sqft
$1,895,000
296 Lester Ave, Oakland CA, 94606
Price per sqft$311.68
Built in1959
Property size6,080 sqft
Property typeCommercial
Overview
Active
New
Listed Oct 16, 2026
Updated 11h 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.
Additional information
- MLS® ID
- 41151543
Interior Features
- Heating
- Yes
- Basement
- No
Exterior Features
- Lot Size
- 0.14 Acres
Other Property Details
- View
- Yes
Listed by Joseph Owens, with Marcus & Millichap
Listing Contact: 925-808-9098
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