333 Lester AVE, Oakland, CA 94606

$2,340,000
: 8,453
SqFt

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Listed by Eymon Binesh, 650-546-1030 from Marcus & Millichap
(If provided) CoList: from

Sold listing courtesy of Eymon Binesh from M&MKW

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Sold Price: $2,340,000
List Price: $2,340,000
Closing Date: Oct 10, 2026
MLS#: ML82064252
Status: SOLD
Sqft. of Residence: 8,453
Lot Size: 9,900
Listing Area: Oakland Zip Code 94606
Year Built: 1958

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Property Description

333 Lester Avenue, a 12-unit value-add multifamily investment opportunity located in Oakland's desirable Lakeshore/Grand Lake submarket, just blocks from Lake Merritt. Built in 1958, the property spans 8,453 square feet on a 0.23-acre lot and offers a diverse, in-demand unit mix of seven 1-bedroom, four 2-bedroom, and one 3-bedroom unit. Offered at $2,498,000 ($208,167 per unit / $296 per square foot), the property is currently 92% occupied, generating $254,255 in Effective Gross Income and $146,196 in Net Operating Income, reflecting a 5.85% current cap rate. Upon stabilization and lease-up to market rents (averaging $2,437 per unit), the property is projected to generate $341,841 in Effective Gross Income and $229,403 in NOI, reflecting a 9.18% pro forma cap rate. Individually metered gas and electric service helps minimize owner-paid utility expenses, while the diverse unit mix appeals to a broad renter base seeking more space near the lake without leaving the urban core. Situated near Lakeside Park, Trader Joe's, Peet's Coffee, and the Grand Lake/Lakeshore retail corridor, the property benefits from strong walkability and consistent renter demand.

(408) 425-9359

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Additional Information

Cooling System: None
Days On Market: Unknown
Foundation: Concrete Perimeter
Garage Parking: Attached Garage
Heating System: Gas
Living Area: 8,453
Lot Size: 9,900
Neighborhood: Oakland Zip Code 94606
Other Utilities: Public Utilities
Roof: Rolled Composition
Sewer: Sewer - Public
Unincorporated Yn: Yes
Zoning: RM

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The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than Real Estate Company are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents.
Based on information from MLSListings MLS as of . All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.