296 Lester Ave, Oakland, CA 94606
296 Lester Ave, Oakland, CA 94606
296 Lester Ave, Oakland, CA 94606
10
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Listed by Joseph Owens • Marcus & Millichap • 510-379-1200
$1,895,000
Est. payment /mo
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6,080 SqFt
Pending

296 Lester Ave Oakland, CA 94606

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Max Manatt

Max Manatt

+1(925) 980-3375

UPDATED:

Key Details

Property Type Commercial

Sub Type 5 or More Units

Listing Status Pending

Purchase Type For Sale

Square Footage 6,080 sqft

Price per Sqft $311

Subdivision Lake Merritt

MLS Listing ID 41151543

HOA Y/N No

Year Built 1959

Lot Size 6,000 Sqft

Property Sub-Type 5 or More Units

Source Bridge AOR

Property Description

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.

Location

State CA

County Alameda

Interior

Heating Forced Air

Cooling None

Flooring Vinyl

Fireplace No

Exterior

View Lake, City

Building

Lot Description Other

Water Public

Others

Special Listing Condition Standard

Bay East Association of Realtors
© 2026 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.

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Max Manatt

Max Manatt

Agent License ID: 01957416

+1(925) 980-3375

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