1523 Lincoln Ave, Alameda, California 94501, Alameda, 94501 - bed, bath
ACTIVE$1,150,000
1523 Lincoln Ave, Alameda, California 94501
0Bed
0Bath
Sqft
4,370Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Great Schools: Elementary School: Donald D. Lum Elementary School (9/10). High School: Alameda High School (9/10).
Top Cons:
Unfinished ADU Project: The potential 4th ADU unit is not completed, requiring the buyer to incur additional costs, time, and navigate city permitting to finalize its construction and realize its full income potential.
Compared to the nearby listings
Price:$1.15M vs avg $1.30M ($-150,000)39%
Size: sqft vs avg 1,604 sqft4%
Price/sqft:$0 vs avg $7494%
More Insights
Built in 1892 (133 years old).
Condition: Despite the 1892 build year of the main house, the property has undergone significant and varied renovations. At least one unit features a modern kitchen with white shaker cabinets, stainless steel appliances, and recessed lighting, along with a contemporary bathroom with a walk-in glass shower and marble-look tiling, placing these elements in excellent condition. Other units showcase updated kitchens with wood cabinets and stainless steel appliances, which, while not brand new, are well-maintained and functional, likely renovated within the last 15-25 years. The description explicitly mentions 'modern electrical and plumbings' and 'hardwood / LVP floors and tiles' in 'many units,' indicating substantial system upgrades. The detached back unit is also described as 'much younger with more modern design and features.' Overall, the property is move-in ready for tenants with no immediate major renovations required, aligning with the 'Good' condition criteria, despite the inherent age of the primary structure.
Year Built
1892
Close
-
List price
$1.15M
Original List price
$1.15M
Price/Sqft
$0
HOA
-
Days on market
-
Sold On
-
MLS number
41116039
Home ConditionGood
Features
Patio
View-
About this home
Beautiful 3-units | 2 House on 1 Lot | 1892 Victorian in excellent location. The front house is two-story building is painted wood siding with crown moldings, a wide driveway plus garage and basement storage space. The detached single unit house in the back is much younger with more modern design and features. Walking up the front stair leads you to balcony entrance of units A. Walking down the right hallway leads to unit B on the ground floor, and units C in the back. All 3 units have hardwood / LVP floors and tiles. Many units have large windows, updated kitchen, modern electrical and plumbings, and private yard space. Parking space available in driveway and the garage. Possible building of a 4th units as an ADU, subject to city permitting, and works have begun but not completed. Separate washer/dryer for 3 units. Simply an incredible income property opportunity. The location is centralize on Alameda and well connected with bus to popular Webster st and Park St, and Bart stations. All units are currently rented.
Nearby schools
8/10
Franklin Elementary School
Public,•K-5•0.4mi
6/10
Henry Haight Elementary School
Public,•K-5•0.6mi
9/10
Donald D. Lum Elementary School
Public,•4-5•0.9mi
5/10
William G. Paden Elementary School
Public,•K-5•1.4mi
5/10
Will C. Wood Middle School
Public,•6-8•0.8mi
9/10
Alameda High School
Public,•9-12•1.0mi
7/10
Encinal Junior/Senior High
Public,•6-12•1.6mi
Condition Rating
Good
Despite the 1892 build year of the main house, the property has undergone significant and varied renovations. At least one unit features a modern kitchen with white shaker cabinets, stainless steel appliances, and recessed lighting, along with a contemporary bathroom with a walk-in glass shower and marble-look tiling, placing these elements in excellent condition. Other units showcase updated kitchens with wood cabinets and stainless steel appliances, which, while not brand new, are well-maintained and functional, likely renovated within the last 15-25 years. The description explicitly mentions 'modern electrical and plumbings' and 'hardwood / LVP floors and tiles' in 'many units,' indicating substantial system upgrades. The detached back unit is also described as 'much younger with more modern design and features.' Overall, the property is move-in ready for tenants with no immediate major renovations required, aligning with the 'Good' condition criteria, despite the inherent age of the primary structure.
Pros & Cons
Pros
Great Schools: Elementary School: Donald D. Lum Elementary School (9/10). High School: Alameda High School (9/10).
Exceptional Income Potential: This multi-unit property features three currently rented units across two houses on one lot, providing immediate and substantial rental income for investors.
Prime Central Location: Strategically located in Alameda, the property offers excellent connectivity to public transportation (bus, BART) and popular commercial/entertainment hubs like Webster St and Park St.
Significant Value-Add Opportunity: Works have already begun for a potential fourth ADU unit, presenting a clear path for future income growth and substantial property value appreciation upon completion.
Historic Charm with Modern Updates: The 1892 Victorian front house retains its architectural character with crown moldings, while units benefit from updated kitchens, modern electrical/plumbing, and contemporary flooring.
Comprehensive Tenant Amenities: The property includes ample off-street parking (wide driveway, garage), basement storage, and separate washer/dryer facilities for all three units, enhancing tenant convenience and appeal.
Cons
Unfinished ADU Project: The potential 4th ADU unit is not completed, requiring the buyer to incur additional costs, time, and navigate city permitting to finalize its construction and realize its full income potential.
Potential for Age-Related Maintenance: Despite some modern updates, the 1892 build year of the main house suggests a higher likelihood of encountering unforeseen or ongoing maintenance issues typical of historic properties.
Inconsistent Unit Modernization: The description indicates that 'many units' have updated kitchens and large windows, implying that not all units may have received these upgrades, potentially leading to varying tenant experiences or future renovation needs.