516 Richardson St, Sausalito, CA 94965
- $4,500,000
- 5,577
- SqFt
- List Price
- $4,500,000
- Status
- ACTIVE
- MLS#
- 326035729
- Price Change
- ▼ $195,000 1784076986
- Year Built
- 1925
- Property Type
- 5 or More Units
- Living Area
- 5,577
- Lot Size
- 6,373
- Acres
- 0.15
- County
- Marin
- Region
- Sausalito
Property Description
Must See! Rare trophy property with solid cap rate and upside income potential on one of the MOST coveted blocks in historic Old Town Sausalito, offering panoramic views of the San Francisco Bay, city skyline, Angel Island, and Alcatraz. Set on a prime corner lot along a quiet cul-de-sac, this Mediterranean-style villa features two circa-1920 buildings on a single parcel with six units, four garages, and a dedicated office/flex space. The unit mix includes four light-filled 1BD/1BA upper residences and two spacious 3BD/2BA middle-level units. Many units enjoy east-facing water views, private entrances, hardwood floors, fireplaces, and classic period details. All units are separately metered for PG&E and water. The property's distinctive architecture - arched walkways, clay tile accents, and interconnected courtyards - creates a cohesive and inviting environment. Additional amenities include four large garage/flex spaces, storage rooms, office space, and a common laundry facility with restroom, offering multiple avenues for added income. Ideally located just blocks from Sausalito's waterfront, ferry, shops, dining, Southview Park, and Swede's Beach, tenants enjoy an exceptional lifestyle with convenient access to San Francisco by ferry, bike, bus, or car. With strong in-place income and cap rate, low vacancy, and significant upside potential through condo conversion, garage/storage monetization, ADU addition, or possible lot split with SB-9 streamlined process (buyer to verify), this is a rare opportunity to acquire a legacy asset in one of the Bay Area's most sought-after enclaves.
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Additional Information
- Style
- Mediterranean
- Carport Spaces
- 4
- Garage Spaces
- 8
- Basement
- None
- Floors
- Wood
- Foundation
- Concrete
- Heating
- Fireplace, Natural Gas, Wall Furnace
- Cooling
- None
- Lot Description
- Corner Lot, Cul-De-Sac, Curbs/Gutters, Sidewalks
- Possession
- Close Of Escrow
- Roof
- Foam, Spanish Tile
- Tenant Pays
- Cable TV, Electricity, Gas, Trash Collection, Water
- Utilities
- Cable Available, Electricity Available, Internet Available, Natural Gas Available
- View
- Bay, Bay Bridge, City, City, City, Water
- School District
- Sausalito Marin City Schools
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Listing courtesy of Yasmine McGrane from Corcoran Icon Properties
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