516 Richardson Street Sausalito, CA 94965
Listing Courtesy of: BAREIS / Corcoran Icon Properties / Yasmine McGrane

  516 Richardson Street Sausalito, CA 94965

Active (1 Days)
$4,695,000 (USD)
5
BED
6
BATH
5,577
SQFT

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.

MLS #:
326035729
Lot Size
6,373 SQFT
Type
Multifamily
Year Built
1925
Style
Mediterranean
Views
City, Panoramic, Bay, Water, City Lights, San Francisco, Bay Bridge, Varies by Unit
School District
Marin
County
Marin County

Listed By

Yasmine McGrane, DRE #02133303 CA, Corcoran Icon Properties
Source
BAREIS
Last checked May 11 2026 at 3:02 PM GMT+0000
Bathroom Details
  • Full Bathrooms: 5
  • Half Bathroom: 1
Kitchen
  • Dishwasher
  • Microwave
  • Disposal
  • Free Standing Refrigerator
  • Free Standing Gas Range
  • Energy Star Qualified Appliances
  • Varies by Unit
Lot Information
  • Cul-De-Sac
  • Corner
  • Sidewalk
  • Curbs/Gutters
Property Features
  • Foundation: Concrete
Heating and Cooling
  • Natural Gas
  • Wall Furnace
  • Fireplace(s)
  • Varies by Unit
  • None
Flooring
  • Wood
  • Varies by Unit
Exterior Features
  • Roof: Foam
  • Roof: Spanish Tile
Utility Information
  • Utilities: Electric, City, Internet Available, Natural Gas Connected, Cable Connected, Sewer In & Connected
  • Sewer: Public Sewer
  • Energy: Appliances, Water Heater
School Information
  • Elementary School: Sausalito Marin City Schools
  • Middle School: Tamalpais Union
  • High School: Sausalito Marin City Schools
Living Area
  • 5,577 sqft
Location
   
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Disclaimer: Listing Data © 2026 Bay Area Real Estate Information Services, Inc. All Rights Reserved. Data last updated: 5/11/26 08:02