508 Spring Street, Sausalito, CA 94965, Sausalito, 94965 - 0 bed, 0 bath
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Sausalito, CA 94965
This Quadruplex Residential Income property is a Strong Value Opportunity, listed at $2,375,000—positioned well below the $2,371,700 Fair Market Value (priced at market stability). Featuring a Condition Rating of 3, the building offers significant upside through potential ADU or condo conversion. With eight parking spaces, in-unit laundry, and private decks with water views, the asset ensures high tenant retention. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a stable, income-generating asset in a premier Sausalito location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 508 Spring Street Subject | $2,250,000* List Price | 0 | 0 | 3,152 | $725 | - |
A 149 Filbert Avenue Active | $1,950,000 List Price | 0 | 0 | 2,600 | $750 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1955 but well-maintained as a functional quadruplex. While the kitchens and baths are aesthetically dated (laminate countertops and older white appliances), the property has received recent updates including fresh paint within three years and refinished or new flooring. The units are move-in ready and fully occupied, meeting the criteria for a well-maintained, functional investment property.
Situated in the heart of Sausalito, the property offers exceptional access to the ferry, public transit, and Highway 101, making it a premier choice for San Francisco commuters.
With three units on flexible month-to-month leases and potential for ADU or condo conversion, there is a clear path to optimizing rental income and increasing property value.
The inclusion of eight parking spaces, private in-unit laundry, and dedicated storage for every unit provides a competitive edge in the local rental market.
The building consists entirely of 1BR/1BA units, which limits the tenant demographic to singles or couples and may cap the maximum achievable rent compared to multi-bedroom configurations.
Built in 1955, the property may require higher long-term capital expenditures for aging core systems despite recent cosmetic and kitchen/bath upgrades.
Investment Opportunity in the Heart of Sausalito! Discover a legacy building offering four well-maintained 1BR/1BA units, each with a deck. Every unit has been upgraded over the years with newer kitchens and baths, fresh paint within the last three years, and floors that have been refinished or newly installed. Residents enjoy four covered parking spaces plus four additional tandem, uncovered spots, along with private in-unit laundry and dedicated storage for each home. The large shared backyard is perfect for relaxing or hosting a weekend BBQ. Ideal for owner-occupants and investors alike, all four units are currently rentedthree on flexible month-to-month terms. There's also exciting upside potential with possible ADU and/or condo conversion (buyer to verify). Unbeatable location: one block to the bus, a 15-minute stroll to the ferry, and quick access to San Francisco via Highways 101 and 580. Surrounded by Sausalito's beloved restaurants and shopsand some of the best views in all of Marin.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,152 | - |
| Lot Size | 6,000 | - |
| Price | $2.25M | $4.00M |
| Price per sq ft | $714 | $891 |
| Built year | 1955 | 0 |
| HOA | $0 | $0 |
| Days on market | 40 | 336 |
Jul 4, 2026
$2,250,000
$2,375,000
-5% Price Drop
Initial Listing
Jun 12, 2026
$2,375,000
Initial Listing