976 Park Street, Alameda, California 94501, Alameda, 94501 - 0 bed, 0 bath
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Alameda, California 94501
This Multi-Unit Investment Asset features two separate residences on a single lot, offered at a List Price of $1,375,000—positioned below the $1,386,304 Fair Market Value by 1%. This entry point secures $11,304 in Instant Equity for the buyer. While the property carries a Condition Rating of 5 (Poor) and requires significant system upgrades, its proximity to Top-Rated Schools and Park Street ensures consistent tenant demand. This is a strategic value-add play for Buy-and-Hold Investors or Multi-Generational Buyers seeking long-term appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 976 Park Street Subject | $1,275,000* List Price | 0 | 0 | 2,238 | $549 | - |
A 2154 Encinal Ave Sold | $1,015,000 | 2 | 2 | 2,143 | $474 | 0.4 mi |
B 1246 Otis Dr Sold | $1,012,500 | 4 | 2 | 1,451 | $698 | 0.9 mi |
C 1818 Fremont Dr Sold | $1,620,000 | 3 | 2 | 2,235 | $725 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1909, this property shows significant signs of age and deferred maintenance, particularly in the kitchen and bathrooms. The kitchen features very dated light wood cabinets, old laminate/tile countertops, a white square tile backsplash, and older appliances, suggesting a renovation from 30-50 years ago. Bathrooms also exhibit dated vanities, fixtures, and tile flooring. While hardwood floors are present in some living areas, the critical wet areas require substantial rehabilitation to meet modern standards. The overall condition points to a need for extensive system upgrades (electrical, plumbing, HVAC) given the property's age and lack of recent major renovations, aligning with the 'poor' category's requirement for substantial repairs and rehabilitation.
Elementary School: Amelia Earhart Elementary School (9/10). Middle School: Lincoln Middle School (9/10). High School: Alameda High School (9/10).
Features two separate homes on one lot, providing a rare and valuable multi-unit investment opportunity with potential for immediate and stable income.
Centrally located in Alameda, minutes from Park Street, South Shore Center, and Crown Memorial State Beach, offering consistent rental demand, walkable amenities, and a highly desirable coastal setting.
Built in 1909, the property is over a century old, which may imply potential for outdated infrastructure (plumbing, electrical, HVAC) and higher maintenance costs, despite a recently painted exterior on one unit.
The description highlights tenant-friendly features but lacks comprehensive details on the overall interior condition of both units or the status of major systems, suggesting potential for unforeseen capital expenditures.
With both units currently rented and viewings by appointment, access for potential buyers to thoroughly inspect the property may be limited and scheduling can be challenging.
Rare investment opportunity featuring two separate homes on one lot, each with its own private outdoor space. Both units are currently rented, providing immediate and stable income. Each home offers strong tenant appeal with hardwood floors, in-unit laundry, and distinctive character. The front residence is a three-bedroom, one-and-a-half-bath home with a large basement and a recently painted exterior, offering long-term durability and potential added value. The rear residence is a two-story home with three spacious bedrooms and two bathrooms, including a bedroom on the main level—ideal for flexible living arrangements and broad rental demand. Located minutes from Park Street and South Shore Center, and close to Crown Memorial State Beach, this centrally located Alameda property benefits from consistent rental demand, walkable amenities, and a highly desirable coastal location. An excellent opportunity for investors seeking a multi-unit property with solid cash flow, long-term appreciation, and future upside in one of Alameda’s most sought-after neighborhoods. Now if your time to start or add to your Investment Portfolio or for future Multi Generational Living in Alameda. Viewings By Appointment.
No exterior & parking available.
Grades K-5 • 0.6 mi
Grades K-5 • 0.8 mi
Grades K-5 • 1.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 3.0 | 3% |
| Baths | 0.0 | 2.0 | 3% |
| Square foot | 2,238 | 1,929 | 62% |
| Lot Size | 6,732 | 4,889.5 | 84% |
| Price | $1.27M | $1.41M | 38% |
| Price per sq ft | $570 | $744 | 16% |
| Built year | 1909 | 1917 | 36% |
| HOA | $0 | $0 | 50% |
| Days on market | 78 | 156 | 19% |
Mar 11, 2026
$1,275,000
$1,375,000
-7% Price Drop
Initial Listing
Feb 3, 2026
$1,375,000
Initial Listing
Mar 10, 2000
$315,000
Public Record
Jun 29, 1999
$215,000
Public Record