3208 Washington St, Alameda, California 94501, Alameda, 94501 - 5 bed, 3 bath
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Alameda, California 94501
This Strategic Multi-Unit Asset represents a significant Value-Add Opportunity in a high-demand coastal market. Listed at $1,495,000 against a $1,374,024 Fair Market Value, the price accounts for the property's rare Dual-Income Potential and expansive 8,084 sqft lot. While currently holding a Condition Rating of 5 with deferred maintenance, the "big upside" lies in the backyard's capacity for an Additional Dwelling Unit (ADU). Situated near Top-Rated Schools like Lincoln Middle (9/10) and Alameda High (9/10), this tenant-occupied property is a high-yield acquisition for Buy-and-Hold Investors or Developers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3208 Washington St Subject | $1,495,000* List Price | 5 | 3 | 2,357 | $583 | - |
A 976 Park St Active | $1,275,000 List Price | 5 | 4 | 2,238 | $570 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1905, this multi-unit property shows significant signs of age and deferred maintenance. The exterior siding and windows appear dated, and the rear shop structure is in a state of disrepair. The lack of interior photos, coupled with the listing's emphasis on 'big upside' and development potential, suggests that the kitchens, bathrooms, and major systems require substantial rehabilitation and modernization to meet contemporary living standards.
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 or a flexible multi-generational living arrangement in a high-demand area.
With a generous 8,084 sqft lot and a large backyard, there is substantial room to build an additional unit (ADU), maximizing the property's long-term value.
Both units are currently tenant-occupied, which may complicate immediate owner-occupancy plans or the timeline for significant renovations.
Built in 1905, the property likely requires ongoing maintenance and modernization of older systems to meet contemporary efficiency and aesthetic standards.
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.
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 | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 80% |
| Baths | 3.0 | 2.0 | 56% |
| Square foot | 2,357 | 1,890 | 67% |
| Lot Size | 8,084 | 4,900 | 91% |
| Price | $1.50M | $1.41M | 56% |
| Price per sq ft | $634 | $741 | 23% |
| Built year | 1905 | 1917 | 28% |
| HOA | $0 | $0 | 50% |
| Days on market | 16 | 159 | 1% |
Apr 6, 2026
$1,495,000
Initial Listing
Jul 25, 2018
$130,000
Public Record
Jul 3, 2002
$80,000
Public Record