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About the Listing BMLS-OBOMM 01 - BMLS-R01707768,BMLS-R01707768
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 Highlights for 296 Lester Ave
Status
Pending
Days on Site
19
Property Type
Multi-Family
MLS ®
41151543
Year Built
1959
Lot/Acreage
0.14
County
Alameda
Neighborhood
Lake Merritt
Interior Details
- Appliances:
- Air Cond:
- Heating: Forced Air
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 6
- Roof:
- Others: Wood Siding,2+ Total Units
- Sewer:
Financial Details
- Tax Amount: $31,711
- Taxes w/Assessments: N/A
- Tax/Property ID: 21227333
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
% Down Payment
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Listing Location
Questions About..
296 Lester Ave Oakland, CA 94606
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