516 Richardson Street
Property Description
An exceptional legacy multiunit asset nestled on one of Old Town Sausalito's most coveted blocks, now offered at a compelling new price! This Mediterranean-style villa spans two circa-1920 buildings on a single corner-lot parcel along a quiet cul-de-sac six units, four garages, and a dedicated office/flex space, with panoramic views of the Bay, city skyline, Angel Island, and Alcatraz. The unit mix includes four light-filled 1BD/1BA upper residences and two spacious 3BD/2BA middle-level units, many with east-facing water views, private entrances, hardwood floors, fireplaces, and period details. Arched walkways, clay tile accents, and interconnected courtyards give the property a cohesive, inviting character. All units are separately metered for PG&E and water. Additional income-producing amenities include four garage/flex spaces, storage rooms, office space, and a common laundry facility with restroom. Just blocks from Sausalito's waterfront, ferry, shops, dining, Southview Park, and Swede's Beach, tenants enjoy easy access to San Francisco by ferry, bike, bus, or car. Strong in-place income and cap rate, low vacancy, and multiple upside levers condo conversion, garage/storage monetization, ADU addition, or a possible SB-9 lot split (buyer to verify) make this a rare chance to own a legacy asset in one of the Bay Area's most sought-after enclaves.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,250,000 |
| No. of Units: | 6 |
| Year Built: | 1925 |
| Lot Size: | 5,577.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $708,333 |
| Property Website | Click Here |
| Number of Bedrooms: | 10 |
| Number of Bathrooms: | 5 |
ID: 3yd-BAREISCA-326035729
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Brokers
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Rick Recckio
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Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout