The team has also made a rare in-division trade with the Seahawks, sending L.J. McCray to Seattle for an undisclosed draft pick.
Streater and McCray must pass physicals with their new teams for the trades to be conpleted.
49ers.com said the following about Streater:
Streater (6-2, 195) originally signed with the Oakland Raiders as an undrafted free agent on May 11, 2012 from Temple University. In four seasons with the Raiders (2012-15), he appeared in 36 games (19 starts) and registered 109 receptions for 1,564 yards (14.3 average) and eight touchdowns. In 2013, he led the Raiders with career highs in receptions (60) and receiving yards (888). Streater signed as a free agent with the Chiefs on March 12, 2016.