296 Lester Ave, Oakland, CA — listing photo 1
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FOR SALENew Listing

296 Lester Ave

Oakland, CA 94606
6,000 Lot Sq Ft
Built 1959
$1,895,000

Property Overview

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.

Home Details

Property type
Residential Income
Year built
1959
Lot size
6,000 sq ft
Parking
6 spaces
Days on market
1
MLS status
Active

Community, Schools & Utilities

Community

Subdivision
LAKE MERRITT
View
Lake
Annual property tax
$31,711

Utilities

Heating
ForcedAir
Cooling
None
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Location & Neighborhood

296 Lester Ave

Oakland, CA 94606

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Frequently Asked Questions About 296 Lester Ave

Property type: Residential Income

The current asking price is $1,895,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.
Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 296 Lester Ave. Our team will confirm availability and timing.
This property offers the living space reported in the listing. It was built in 1959. Review the listing details and disclosures, then independently verify material features before making a decision.
The property is in Oakland, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.
Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Oakland property.
The MLS currently reports the property as Active. It has been listed for 1 days. Status can change, so verify availability before relying on it.

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Listing Agent

Name: Joseph Owens
MLS ID: BMLS-R01707768

Available property

$1,895,000

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Data provided by California Regional Multiple Listing Service, Inc. ("CRMLS"). Information is for viewer's personal, non-commercial use. All data should be independently verified for accuracy.