Residential Income Property
357 Lester Ave Oakland, CA 94606
357 Lester Ave, Oakland, CA, 94606
$1,430,000
For Sale
$1,430,000
Well-located income property near Grand Lake with walkable access to dining, shopping, and public transportation.
Property Size3,707 SF
Price / SF$385.76
Days on Market52
Property Features for 357 Lester Ave
General Information
- Standard status
- Active
- Size
- 3,707 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1927
Listing agency
BAY HOME INVESTMENTS&LOANS
(925) 931-0298
Listed by
SANDY LEUNG
Source
Corcoran
Added: Jun 2 Updated: Jul 21 at 12:32PM Checked: Jul 22 at 8:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BAY HOME INVESTMENTS&LOANS
Investment Insights
Based on property information with market context.
This well-located residential income property offers a built-in income opportunity in Oakland. The property totals about 3,707 square feet and is positioned to serve long-term rental demand based on its walkable setting and convenient access to public transportation and nearby retail and dining.
Situated near the Grand Lake area, the property is close to restaurants, cafes, shopping, and everyday amenities, with easy freeway access noted in the remarks. It is surrounded by the activity of the Grand Lake district, supporting tenant appeal for day-to-day convenience.
The offering is presented as suitable for both investors and owner-users seeking stable long-term value and rental income.
Situated near the Grand Lake area, the property is close to restaurants, cafes, shopping, and everyday amenities, with easy freeway access noted in the remarks. It is surrounded by the activity of the Grand Lake district, supporting tenant appeal for day-to-day convenience.
The offering is presented as suitable for both investors and owner-users seeking stable long-term value and rental income.
Key Highlights
- Income property built in 1927
- Located near the Grand Lake area with walkable access to dining, cafes, shopping, and everyday amenities
- Convenient access to public transportation, entertainment, and easy freeway access
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $140.1k | $37.80 |
| − Vacancy | −$7.7k | −$2.08 |
| EGI | $132.4k | $35.72 |
| − OpEx | −$59.6k | −$16.07 |
| NOI | $72.8k | $19.65 |
3,707 SF · lease $37.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$910.4K – $1.21M
NOI $72,830 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,206 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Well-located income property near Grand Lake with walkable access to dining, shopping, and public transportation.
Where is this multifamily property located?
The property is located at 357 Lester Ave Oakland, CA.
What is the asking price?
The asking price for this property is $1,430,000.
What are key features of this property?
This property features: Income property built in 1927; Located near the Grand Lake area with walkable access to dining, cafes, shopping, and everyday amenities; Convenient access to public transportation, entertainment, and easy freeway access
