Home | Alameda County | Oakland | 94606 | 296 Lester Ave
MLS: EB41151543 | Status: | Price: $1,895,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | 6,080 | 6,000 | 1959 |
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.
| Field | Value |
|---|---|
| MLS # | EB41151543 |
| MLS Source | Bridge MLS |
| Days on Site | 1 |
| Feature | Details |
|---|---|
| Flooring | Vinyl |
| Cooling | None |
| Heating | Forced Air |
Joseph Owens
Marcus & Millichap
License #: 01707768
Phone: (925) 808-9098
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| – | – | 8 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 760 | 2 | 0/0 | $2,186 | – | – |
School data provided by GreatSchools.org
| School | Type | Grades | Distance | Rating |
|---|---|---|---|---|
| Cleveland Elementary School | public | K-5 | 0.45 mi | 6 |
| Dewey Academy | public | 9-12 | 0.51 mi | 3 |
| La Escuelita Elementary School | public | K-5 | 0.53 mi | 2 |
| Neighborhood Centers Adult Education | public | UG | 0.56 mi | N/A |
| MetWest High | public | 9-12 | 0.58 mi | 4 |
| Metwest High School | public | 9-12 | 0.58 mi | N/A |
| Franklin Elementary School | public | K-5 | 0.61 mi | 7 |
| Gateway To College at Laney College School | public | 9-12 | 0.74 mi | 7 |
| Bella Vista Elementary School | public | K-5 | 0.78 mi | 4 |
| Oakland High School | public | 9-12 | 0.86 mi | 4 |
| Lincoln Elementary School | public | K-5 | 0.88 mi | 9 |
| Westlake Middle School | public | 6-8 | 1.05 mi | 2 |
| Roosevelt Middle School | public | 6-8 | 1.14 mi | 3 |
| Edna Brewer Middle School | public | 6-8 | 1.24 mi | 8 |
| Street Academy (Alternative) | public | 9-12 | 1.32 mi | 2 |
| Garfield Elementary School | public | K-5 | 1.39 mi | 3 |
| Crocker Highlands Elementary School | public | K-5 | 1.44 mi | 9 |
| Wildwood Elementary School | public | K-5 | 1.51 mi | 9 |
| Beach Elementary School | public | K-5 | 1.55 mi | 8 |
| Manzanita Community | public | K-5 | 1.60 mi | 1 |
| Address | Price | Beds | Baths | Sq Ft | Status |
|---|---|---|---|---|---|
| 1203 Benton St | $2,075,000 | – | – | 6,568 | |
| 4121 Opal St | $1,898,000 | – | – | 5,904 | |
| 31 Croxton Ave | $1,625,000 | – | – | 4,640 | |
| 476 42nd St | $1,575,000 | – | – | 3,780 | Active |
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This listing information is up-to-date as of October 17, 2026. For the most current information, please contact Joseph Owens, (925) 808-9098.