One of a kind--1904 Clinton Ave, Alameda, CA

It's certainly pretty, although I'm not sure I like the siding. It's also across the street from a large, formerly gorgeous white Victorian on a corner lot that's falling to bits slowly but surely:

I haven't seen the inside, so I can't vouch for its condition, but the outside is nice, it has direct lagoon access and a big lot, and it's fairly large, so $949,000 ($370 / sqft) is probably enough to make it move quickly. I don't know if they're going to get it, though, since the house sold for "only" $700,000 in late 2007, near the peak of the market, at a time when house prices were actually higher than they are now; this suggests there might be something funny going on with the property. But again, I haven't seen it (or the disclosures), so it's hard to tell.

Whatever the case may be, though, I suspect the owners realized you can't make a $700,000 triplex cash-flow-positive no matter how you slice it, especially if you've added the mortgage by upgrading a bunch of things (emphasis added):

Home Description

Triplex with 2 1 Bedroom units on the 1st floor and a 2 Bedroom on the upper floor. Located directly on the lagoon with its own pier and deck on the water. Great Views. New roof & double-pane windows, oak floors refinished, upgraded electrical, freshly repainted, insulated.

Provided by the owner

The owners also appear to have set a "Make me move" price on Zillow (a cool million, natch), and put it up as a FSBO on Zillow as well, which suggests they may have wanted to bail very shortly after they bought the house.

At any rate, their expectations have dropped a hair, as evidenced by their sub-$1M list price. It'll be interesting to see what happens.