516 Richardson Street, Sausalito, CA 94965

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$4,500,000

bedrooms

bathrooms

square feet

5,577

Acreage

0.1463

Open Houses

year built

1925

Full Baths

Half Baths

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Must See! Rare trophy property with solid cap rate and upside income potential 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.

Location
Subdivision	-
County	Marin
Elementary School	-
Middle School	-
High School	-

Driving directions

Open houses

None scheduled.

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MLS number: 326035729

Listing status: Active

Listing agent: Yasmine McGrane

Listing broker: Corcoran Global Living (415) 278-9600

Copyright © 2026 Bay Area Real Estate Information Services, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. [source]

Last update: Wednesday, July 29 2026 at 6:43 a.m. EDT

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