
Sausalito, CA 94965
This trophy property represents a Strong Value Opportunity, listed at $4,695,000—positioned well below the $4,982,884 Fair Market Value by 5%. This valuation gap offers $287,884 in Instant Equity. Featuring a Mint Condition Rating with modern renovations, this Mediterranean-style villa offers panoramic Bay views and significant upside through potential condo conversion or ADU additions. With six separately metered units, this is a premier asset for Buy-and-Hold Investors or Portfolio Diversifiers seeking a legacy income-producing property in historic Sausalito.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 516 Richardson Street Subject | $4,250,000* List Price | 0 | 0 | 5,577 | $762 | - |
A 561 Bridgeway Way Active | $5,250,000 List Price | 0 | 0 | 5,492 | $956 | 0.3 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While originally built in 1925, the property has undergone extensive recent renovations (likely within the last 5 years). Interior images reveal modern kitchens with stainless steel appliances and updated cabinetry, along with bathrooms featuring contemporary subway tile and new fixtures. The units appear in mint condition with updated flooring and separate metering for utilities, meeting the criteria for a high-end renovation.
Situated on a coveted corner lot in historic Old Town Sausalito, this trophy property offers world-class views of the San Francisco skyline, Alcatraz, and the Bay, ensuring high long-term desirability.
The property presents multiple avenues for equity growth, including potential condo conversion, ADU additions, or a lot split via the SB-9 process, providing investors with diverse exit strategies.
With six residential units, four garages, and dedicated office/flex spaces that are all separately metered, the asset offers robust in-place income with additional monetization opportunities for storage and parking.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 5577, other record living area = 5433.
Dating back to 1925, this Mediterranean-style villa may require significant capital expenditure for seismic retrofitting, system modernizations, or the upkeep of its classic period architectural details.
While the upside potential is high, navigating Sausalito's strict zoning for condo conversions or SB-9 lot splits can be a lengthy and costly process requiring extensive due diligence.
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.
No exterior & parking available.
Grades K-8 • 2.3 mi
Grades K-8 • 2.3 mi
Grades 9-12 • 3.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 5,577 | 2,328.5 |
| Lot Size | 6,373 | 4,863.5 |
| Price | $4.25M | $1.77M |
| Price per sq ft | $762 | $754 |
| Built year | 1925 | 1936 |
| HOA | $0 | $0 |
| Days on market | 121 | 42 |
Sep 4, 2026
$4,250,000
$4,500,000
-6% Price Drop
Initial Listing
Jul 15, 2026
$4,500,000
$4,695,000
-4% Price Drop
Initial Listing
May 11, 2026
$4,695,000
Initial Listing
Sep 12, 2024
$4,250,000
Public Record
Jul 6, 2007
$480,500
Public Record
Jul 6, 2007
$334,000
Public Record
Nov 9, 1999
$414,000
Public Record