1604 Schiller St, Alameda, California 94501, Alameda, 94501 - 7 bed, 5 bath
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Alameda, California 94501
This Rare Multi-Unit Residential Compound is a Strong Value Opportunity listed at $1,700,000—positioned well below the $1,831,511 Fair Market Value by 7%. This valuation gap provides $131,511 in Instant Equity. While maintaining a Condition Rating of 4, the property offers significant Value-Add Potential across four units and three detached buildings. Featuring distant mountain views and access to 9/10 rated schools like Donald D. Lum Elementary, it balances investment upside with lifestyle stability. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-utility "house-hack."
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1604 Schiller St Subject | $1,700,000* List Price | 7 | 5 | 4,364 | $420 | - |
A 2061 Buena Vista Ave Sold | $1,900,000 | 7 | 4 | 4,000 | $475 | 0.3 mi |
B 2120 Encinal Ave Sold | $1,900,000 | 8 | 5 | 4,008 | $474 | 0.5 mi |
C 1822 1822 Clinton Ave Active | $1,599,000 List Price | 7 | 3 | 3,670 | $436 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1923, this multi-unit compound is over 100 years old with no evidence of recent major renovations. Exterior images show dated finishes, peeling paint on porch steps, and a weathered detached garage structure. While functional and occupied, the property is significantly dated and will require updates to kitchens, baths, and likely aging systems to reach modern standards.
Elementary School: Donald D. Lum Elementary School (9/10). High School: Alameda High School (9/10).
This rare compound features three separate buildings totaling four units, offering unparalleled flexibility for multi-generational living, high-yield rental income, or a 'live-in-one, rent-the-others' investment strategy.
Ideally situated with convenient access to the SF Ferry, BART, and major commuter routes, while remaining walking distance to top-rated schools and the vibrant dining districts of Park and Webster Streets.
Originally constructed in 1923, the property may require significant ongoing maintenance or capital improvements typical of century-old multi-unit structures to meet modern standards.
Managing four distinct residential units across multiple detached buildings involves higher operational oversight and utility coordination compared to traditional single-family or consolidated multi-family investments.
3 Homes on 1 Lot. 4 Units. Rare Alameda Opportunity. Located on the corner of Schiller & Lincoln, this unique compound-style property offers a flexible layout with 2 detached single-family homes and a duplex totaling 4 residential units. Opportunities like this rarely come to market in Alameda. The configuration creates multiple ownership paths for buyers exploring compound living, rental income, or long-term investment potential. Unit mix includes: 1604 – 2 bed / 1 bath; 1821A – 1 bed / 1.5 ba; 1821B – 2 bed / 1 ba; 1825 – 2 bed / 1 ba. The detached homes provide natural separation and flexibility, offering the possibility to live in one residence while generating income from the others or hold as a strategic long-term asset. A detached garage structure and the configuration of 3 homes on 1 lot may present additional possibilities for creative use, potential ADU, or future parcelization concepts. Ideally positioned near Grand Street with convenient access to Park Street, Webster Street, South Shore Center, neighborhood parks, dining, the SF Ferry, BART connections, AC Transit, and major commuter routes.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades K-5 • 0.5 mi
Grades 4-5 • 0.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 7.0 | 3.0 | 95% |
| Baths | 5.0 | 2.0 | 94% |
| Square foot | 4,364 | 1,929 | 97% |
| Lot Size | 9,430 | 4,889.5 | 94% |
| Price | $1.70M | $1.41M | 72% |
| Price per sq ft | $390 | $744 | 5% |
| Built year | 1923 | 1918 | 53% |
| HOA | $0 | $0 | 50% |
| Days on market | 5 | 156 | 1% |
Apr 17, 2026
$1,700,000
Initial Listing
Mar 12, 2003
$350,000
Public Record