Cook chopped strawberries, sugar, and lemon juice in a pan over medium heat for 5 minutes until thick. Let it cool
Beat softened butter and cream cheese until fluffy. Gradually add sugar. Mix in eggs one at a time, then add vanilla (and almond extract, if using).
Stir in flour, baking powder, and salt gently until just combined. Avoid overmixing.
Combine 2 cups of batter with cooled strawberry jam. For pink color, add 1–2 drops red food coloring (optional).
In a greased loaf pan, layer plain and pink batter. Swirl with a knife. Bake at 350°F (175°C) for 45–50 minutes. Cool before glazing.
Beat cream cheese until smooth. Mix in powdered sugar and milk until drippy. Add strawberry extract or a bit of jam for flavor and color.
Once the cake is cool, drizzle glaze using a spoon, fork, or piping bag.