516 Richardson ST Sausalito, CA 94965 Active
UPDATED: 05/22/2026 11:24 PM ON MARKET: 14 days on market
$4,695,000
3110 Beds4 Baths5,577 SqFt
Key Details
Property Type Multi-Family
Sub Type 5 or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 5,577 sqft
Price per Sqft $841
MLS Listing ID 326035729
Bedrooms 3110
Construction Status Original,Updated/Remodeled
HOA Y/N No
Year Built 1925
Lot Size 6,372 Sqft
Property Sub-Type 5 or More Units
Property Description
Investor Alert! Rare trophy property 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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