3208 Washington St, Alameda, California 94501, Alameda, 94501 - 5 bed, 3 bath
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Alameda, California 94501
This property presents a High-Potential Investment Opportunity with a List Price of $1,495,000—positioned well below the $1,374,024 Fair Market Value by -8%. While the property is currently priced above market, the Dual-Residence Income Potential and Significant Development Upside on the 8,084 sqft lot provide a clear path to value creation. With a Condition Rating of 5, the asset requires a full rehab, making it an ideal acquisition for Buy-and-Hold Investors or Contractors looking to leverage the proximity to top-rated schools like Lincoln Middle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3208 Washington St Subject | $1,300,000* List Price | 5 | 3 | 2,357 | $540 | - |
A 976 Park St Sold | $1,315,000 | 5 | 4 | 2,238 | $588 | 0.7 mi |
B 976 Park Street Sold | $1,315,000 | 0 | 0 | 2,238 | $588 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1905 with no recorded major renovations to kitchens, bathrooms, or core systems. The property is marketed as an 'investment opportunity' with 'big upside,' which typically indicates significant deferred maintenance and the need for a full interior and exterior rehab.
Elementary School: Amelia Earhart Elementary School (9/10). Middle School: Lincoln Middle School (9/10). High School: Alameda High School (9/10).
The property features two separate houses on a single lot, providing immediate rental income from both units or a flexible multi-generational living setup in a high-demand area.
With an expansive 8,084 sqft lot and a large backyard, there is substantial room to build an additional unit or ADU, offering a rare opportunity to increase the property's density and value.
Both residences are currently tenant-occupied, which may present challenges for buyers seeking immediate owner-occupancy or those looking to perform extensive interior renovations.
Built in 1905, these vintage structures likely require ongoing maintenance or significant modernization to address the wear and tear associated with century-old investment properties.
FANTASTIC INVESTMENT OPPORTUNITY! NOT MANY PROPERTIES LIKE THIS. Two houses on one lot. The front house has 2 bedrooms and 2 full baths and is tenant occupied. It is two stories with a bedroom and full bath on each floor. The rear house has 3 bedrooms and 1 full bath. The 3 bedrooms and the full bath are on the second floor. The rear house is also tenant occupied. There is a very large backyard with a shop space. Contact agent for rental amounts. BIG UPSIDE.....lots of room in the backyard to build another unit. Great location near Lincoln Middle School, Otis Elementary School, Krusi Park and Lincoln Park.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.6 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 4.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 2,357 | 2,099.5 |
| Lot Size | 8,084 | 5,000 |
| Price | $1.30M | $1.46M |
| Price per sq ft | $552 | $779 |
| Built year | 1905 | 1931 |
| HOA | $0 | $180 |
| Days on market | 107 | 35 |
Jul 19, 2026
$1,300,000
$1,495,000
-13% Price Drop
Initial Listing
Apr 6, 2026
$1,495,000
Initial Listing
Jul 25, 2018
$130,000
Public Record
Jul 3, 2002
$80,000
Public Record