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  • 296 Lester Ave

296 Lester Ave, Oakland, CA 94606

$1,895,000 Approx. USD 0 beds, 0 baths
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Photo of Patrick Ahern

Patrick Ahern REALTOR® - Sales Associate 858-220-9001 m
858-459-0501 o
Lic#: 00610408
NRDS ID: 196548265
aherngroup@gmail.com Text Me
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Lic#: 00610408
NRDS ID: 196548265
aherngroup@gmail.com La Jolla Prospect Office
1299 Prospect St, Ste. 100-101, 200-203 & 301-302
La Jolla, CA 92037
Phone: 858-459-0501
Fax: 858-459-3275
 La Jolla Prospect 1299 Prospect St, Ste. 100-101, 200-203 & 301-302
La Jolla, CA 92037
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Fax: 858-459-3275
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Listing Agent


Joseph Owens | joe.owens@marcusmillichap.com
Lic#: 01707768
Broker: Courtesy of Marcus & Millichap
Phone: 925-808-9098

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)
Status: Pending
MLS# 41151543
Price: $1,895,000
HOA Fee is $0.00
Beds: 0
Baths: 0
Built in 1959
0.14 acres
Lot size: 0.1377
Subdivision: LAKE MERRITT
County: Alameda
Construction: Wood Siding
Heating/cooling: None
Heating description: Forced Air

Last Updated: 10/25/2026

 Days On Market (DOM): 8

 Find more Oakland homes and real estate

 Find more homes in 94606 zip code

 Find more homes in the LAKE MERRITT subdivision

Lat/Long: 37.801938, -122.251436.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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Photo of Patrick Ahern

Patrick Ahern REALTOR® - Sales Associate 858-220-9001 m
858-459-0501 o
Lic#: 00610408
NRDS ID: 196548265
aherngroup@gmail.com Text Me
Call My Cell
Call My Office
Lic#: 00610408
NRDS ID: 196548265
aherngroup@gmail.com
La Jolla Prospect Office
1299 Prospect St, Ste. 100-101, 200-203 & 301-302
La Jolla, CA 92037
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