55 Park Circle, Sausalito, CA 94965, Sausalito, 94965 - 4 bed, 3 bath
ACTIVE$1,425,000$1,638/sqft
Est. Value: $1,425,000
%
FairlyEstimate
55 Park Circle, Sausalito, CA 94965
4Beds
3Baths
1,638Sqft
10,001Lot
Price Vs. Estimate
The estimated value ($1,425,000) is $0 (0%) lower than the list price ($1,425,000). This property may be overpriced.
Key pros and cons
Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10001, living area = 1638.
Top Cons:
MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Compared to the nearby listings
Price:$1.43M vs avg $2.21M ($-787,500)29%
Size:1,638 sqft vs avg 2,320 sqft21%
Price/sqft:$870 vs avg $91439%
More Insights
Built in 1965 (61 years old).
Condition: Built in 1965, the property shows signs of regular upkeep and some updates, such as newer laminate flooring and fresh paint in the upper unit, and a somewhat updated vanity in the main bathroom. However, both kitchens feature dated elements like tile countertops and older appliances (especially in the lower unit), and the half-bath is significantly outdated. While functional and move-in ready, the property requires minor updates to modernize the kitchens and bathrooms, aligning with the 'fair' condition criteria.
Year Built
1965
Close
-
List price
$1.43M
Original List price
-
Price/Sqft
$870
HOA
$0
Days on market
-
Sold On
-
MLS number
325070946
Home ConditionFair
Features
Excellent View:
Deck
Spa
Patio
View-
About this home
Perfect 1031 exchange rental property for the savvy investor! 2 units just minutes to San Francisco.. Upper unit is three-bedroom, One and a half-bath, light and bright! Lower unit is a one-bedroom, 1 full bathroom with laundry in unit. Panoramic views that greet you from sunrise to sunset. Large lot perfect for entertaining or relaxing and a possible additional ADU opportunity. Sought-after neighborhood with easy access to shops, trails, dining and a convenient commute to San Fran!
D
David Gallagher
Listing Agent
Price History
Date
Event
Price
07/01/99
Sold
$290,000
11/14/96
Sold
$215,000
05/20/03
Sold
$550,000
Condition Rating
Fair
Built in 1965, the property shows signs of regular upkeep and some updates, such as newer laminate flooring and fresh paint in the upper unit, and a somewhat updated vanity in the main bathroom. However, both kitchens feature dated elements like tile countertops and older appliances (especially in the lower unit), and the half-bath is significantly outdated. While functional and move-in ready, the property requires minor updates to modernize the kitchens and bathrooms, aligning with the 'fair' condition criteria.
Pros & Cons
Pros
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10001, living area = 1638.
Strong Investment Opportunity: Positioned as a 'perfect 1031 exchange rental property' with two distinct units, offering immediate income potential for savvy investors.
Desirable Multi-Unit Configuration: Features a 3-bedroom, 1.5-bath upper unit and a 1-bedroom, 1-bath lower unit with in-unit laundry, providing versatile rental options or owner-occupancy with income.
Exceptional Panoramic Views: Boasts 'panoramic views that greet you from sunrise to sunset,' a highly sought-after amenity significantly enhancing property value and tenant appeal in Sausalito.
Prime Sausalito Location & Commute: Situated in a 'sought-after neighborhood' with 'easy access to shops, trails, dining' and a 'convenient commute to San Fran,' enhancing tenant desirability and property appreciation.
Future Value with ADU Potential: The 'large lot' offers a 'possible additional ADU opportunity,' providing significant future expansion and income potential, adding long-term value.
Cons
MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Age and Potential for Updates: Built in 1965, the property may require substantial capital investment for system upgrades and cosmetic renovations to optimize rental income and appeal to modern tenants.
Legal Status of Two Units Clarification: Listed as a 'Single Family Residence' but described as '2 units,' necessitating thorough due diligence to confirm zoning compliance, legal non-conforming status, or proper permitting for the multi-unit configuration.
Compact Unit Sizes: The total 1638 sqft for two units (3-bed and 1-bed) suggests potentially compact living spaces, which might limit appeal for tenants or owner-occupants seeking more generous room dimensions.