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$1,895,000
13 Days On Site
296 Lester AveOakland, CA 94606
Residential Income|Pending
0
Beds
0
Total Baths
1959
Built
Subdivision:
LAKE MERRITT
County:
Alameda
Listed by Joseph Owens of Marcus & Millichap joe.owens@marcusmillichap.com
Call Now: 951-203-4426
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951-203-4426



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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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Listing Snapshot
Price
$1,895,000
Days On Site
13 Days
Bedrooms
N/A
Inside Area (SqFt)
N/A
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.1377 Acres
Year Built
1959
MLS Number
41151543
Status
Pending
Property Tax
$31,711
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
Recent Activity
| 5 days ago | Listing updated with changes from the MLS | |
| 6 days ago | Status changed to Pending | |
| 2 weeks ago | Listing first seen on site |
General Features
Acres
0.1377
Parking Spaces
6
Interior Features
Cooling
None
Heating
Forced Air
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Exterior Features
Construction Details
Wood Siding
View
Lake
Waterview
Lake
This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Neighborhood & Commute
Source: Walkscore
Disclosure: Community information and market data powered by Constellation Data Labs. Information is deemed reliable but not guaranteed.
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