
Alameda, California 94501
This property presents a High-Potential Investment Opportunity with a List Price of $1,269,000—positioned well below the $1,265,825 Fair Market Value by approximately 0%. While the price is at market, the 4/3 Condition Rating reflects a vintage 1910 structure with significant value-add potential. The 8,865 sqft lot and dual-residence configuration provide rare flexibility for rental income or multi-generational living. Located near the Alameda Ferry and top-rated schools, this is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage expansion potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 301 Lincoln Ave Subject | $1,269,000* List Price | 4 | 3 | 1,743 | $726 | - |
A 1501 8th St Pending | $988,000 List Price | 3 | 3 | 1,839 | $537 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1910, the property is functional but significantly dated. Interior images show older top-nailed hardwood floors, a bathroom with aged fixtures and 20+ year old styling, and older wall/floor heating vents suggesting dated systems. While the structure appears maintained, the finishes and systems likely exceed the 20-30 year mark since any major renovation, requiring updates to meet modern standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8865, living area = 1743.
The property features two independent residences on a single lot, offering rare flexibility for rental income, multi-generational living, or a dedicated home office setup.
With an oversized 8,865 sqft lot and a full basement under the primary residence, there is substantial opportunity for footprint expansion or value-add conversions.
Dating back to 1910, the property likely requires significant capital investment to modernize aging systems such as plumbing, electrical, and foundation work.
The total 1,743 square footage is divided between two separate structures, which may result in smaller individual room sizes and a lack of modern open-concept flow.
Rare chance to purchase two individual properties on a large lot in downtown Alameda. The primary residence at 301 Lincoln Ave. has three bedrooms and two bathrooms, and offers ample interior space, characterized by its many functional spaces. There is a smaller, independent residence with a single bedroom and bathroom (1612 3rd St.) tucked behind the larger house. This is perfect as an auxiliary housing unit for elderly relatives, guest accommodations, rental income, or as a home office. The property also includes an entire basement area under the primary house. In addition to offering plenty of storage and workshop areas, there are possible expansions/ conversions that can be made from this area (permitted uses will need to be verified with the City of Alameda). Additionally, the expansive side yard adds value to the property. It offers multiple possibilities for entertainment, recreation, gardening, etc., and other possible uses. This rare offering allows buyers a multitude of options including purchasing a multi-generational property, a rental/income producing property, or a property which may allow owners to expand their current home. Located close to Webster Street shops/restaurants, parks, schools, Alameda Ferry terminal, public transportation, and all major commuting roads. Open house on 7/5, 7/11 & 7/12
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.4 mi
Grades K-5 • 2.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 4.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,743 | 2,099.5 |
| Lot Size | 8,865 | 5,000 |
| Price | $1.27M | $1.46M |
| Price per sq ft | $728 | $779 |
| Built year | 1910 | 1931 |
| HOA | $0 | $180 |
| Days on market | 17 | 35 |
Jul 5, 2026
$1,269,000
Initial Listing