Someone else had posted a question on Trulia, asking about te 99 year lease and how it will affect her if she bought it. At that time, I answered that there were already two offers on the table just a couple of days after the listing was posted, and that the listing agent decided to set an offer date a day later.
I personally showed this property. And there were other realtors showing it at the same time. And although it didn't have any upgrades, it was very clean. Best of all, it had one of the largest fenced yards in that complex.
Because of the price, especially in Alameda, it was very appealing to a lot of people who want to move to our lovely island city. So it received multiple offers. We won't know until escrow closes what it finally sold for.
Please note that this is not uncommon. When a desirable property in a desirable location is priced aggressively to sell, as this one was, it will receive considerable attention. And in this case, multiple offers. On two occasions, in Alameda, I had to compete (and fortunately won) for bank-owned properties.
Hope this helps.