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Active
    • Price cut: $195K (7/14)
    $4,500,000

    516 Richardson Street, Sausalito, CA 94965

    10beds
    5,577sqft
    : 
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    Multi Family
    Built in 1925
    -- sqft lot
    $4,298,300 Zestimate®
    $807/sqft
    $-- HOA

    What's special

    Classic period detailsMediterranean-style villaOffice spacePrivate entrancesFour garagesHardwood floors
    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.
    66 days
    |
    1,141
    |
    78
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Yasmine McGrane DRE #02133303 415-298-7775,

    Corcoran Icon Properties 415-496-2600

    Source: BAREIS,MLS#: 326035729MLS LogoOriginating MLS: Marin County

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      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 10
      • Bathrooms: 10
      • Full bathrooms: 4
      • Partial bathrooms: 1
      Heating
      • Fireplace(s), Natural Gas, Wall Furnace
      Cooling
      • None
      Appliances
      • Included: Dishwasher, Disposal, ENERGY STAR Qualified Appliances, Free-Standing Gas Range, Free-Standing Refrigerator, Microwave, Varies By Unit, Washer/Dryer
      • Laundry: Coin Operated, Common Area
      Features
      • Unit 1 - Beds: 4, Baths: 8, Square Footage: 5152 | Unit 2 - Beds: 0, Baths: 0, Square Footage: 5577 | Unit 3 - Beds: 6, Baths: 2, Square Footage: 1198 | Unit 4 - Beds: 0, Baths: 0, Square Footage: 5577
      • Flooring: Wood
      • Has fireplace: Yes
      Interior area
      • Total structure area: 5,577
      • Total interior livable area: 5,577 sqft
      Video & virtual tour

      Property

      Parking
      • Total spaces: 12
      • Parking features: Guest, Permit Required, On Street, See Remarks
      • Garage spaces: 8
      • Carport spaces: 4
      • Has uncovered spaces: Yes
      Features
      • Patio & porch: Balcony/Deck, Patio, Other
      • Exterior features: Yard Space
      • Fencing: Fenced
      • Has view: Yes
      • View description: Bay, Bay Bridge, City, City Lights, Panoramic, San Francisco, Water
      • Has water view: Yes
      • Water view: Bay,Water
      Lot
      • Size: 6,372 Square Feet
      • Features: Corner Lot, Cul-De-Sac, Curbs/Gutters, Sidewalk
      Details
      • Parcel number: 06523311
      • Special conditions: Offer As Is

      Construction

      Type & style
      • Home type: MultiFamily
      • Architectural style: Mediterranean
      • Property subtype: Multi Family
      Materials
      • Brick, Concrete, Stucco
      • Foundation: Concrete
      • Roof: Foam,Spanish Tile
      Condition
      • Year built: 1925

      Utilities & green energy

      • Electric: 220 Volts, Separate Meters
      • Gas: Separate Meters
      • Sewer: Public Sewer
      • Water: Public, Separate Meters
      • Utilities for property: Cable Connected, City, Electricity Connected, Internet Available, Natural Gas Connected, Sewer In & Connected
      Green energy
      • Energy efficient items: Appliances, Water Heater

      Community & HOA

      Community
      • Security: Carbon Monoxide Detector(s), Fire Extinguisher, Smoke Detector(s), Varies By Unit
      HOA
      • Has HOA: No
      Location
      • Region: Sausalito

      Financial & listing details

      • Price per square foot: $807/sqft
      • Tax assessed value: $4,250,000
      • Annual tax amount: $60,265
      • Date on market: 5/11/2026
      • Tenant pays: Cable TV, Electricity, Gas, Trash Collection, Water
      • Electric utility on property: Yes

        Estimated market value

        $4,298,300

        $4.08M - $4.51M

        $5,115/mo

        Price history

        DateEventPrice
        7/14/2026Price change$4,500,000-4.2%$807/sqft
        Source: BAREIS #326035729 Report a problem
        5/11/2026Listed for sale$4,695,000+10.5%$842/sqft
        Source: BAREIS #326035729 Report a problem
        9/12/2024Sold$4,250,000-5.6%$762/sqft
        Source: BAREIS #324031106 Report a problem
        9/7/2024Pending sale$4,500,000$807/sqft
        Source: BAREIS #324031106 Report a problem
        7/5/2024Contingent$4,500,000$807/sqft
        Source: BAREIS #324031106 Report a problem
        5/6/2024Listed for sale$4,500,000+836.5%$807/sqft
        Source: BAREIS #324031106 Report a problem
        7/6/2007Sold$480,500+16.1%$86/sqft
        Source: Public Record Report a problem
        11/9/1999Sold$414,000-67%$74/sqft
        Source: Public Record Report a problem
        4/15/1999Sold$1,255,000+25.5%$225/sqft
        Source: Public Record Report a problem
        12/10/1998Sold$1,000,000$179/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$60,265 +52.3%$4,250,000 +64.3%
        2024$39,562 +1.8%$2,587,266 +2%
        2023$38,871 +3.2%$2,536,596 +2%
        2022$37,671 +1.3%$2,486,914 +2%
        2021$37,203 +2.2%$2,438,212 +1%
        2020$36,396 +2.9%$2,413,238 +2%
        2019$35,383 +4.6%$2,365,983 +2%
        2018$33,815 +2.5%$2,319,650 +2%
        2017$32,985 +4.5%$2,274,224 +2%
        2016$31,580 +0.1%$2,229,682 +1.5%
        2015$31,549 +3.2%$2,196,237 +2%
        2014$30,575 $2,153,275 +11.9%
        2013-- $1,925,000 +5.8%
        2012-- $1,820,000 -2.8%
        2011-- $1,872,000
        2010-- $1,872,000 -8.7%
        2009-- $2,049,915 +2%
        2008-- $2,009,770 +29.6%
        2007-- $1,550,885 +2%
        2006-- $1,520,526 +2%
        2005-- $1,490,762 +2%
        2004-- $1,461,582 +2%
        2003-- $1,432,447 +2%
        2002-- $1,404,366 +2%
        2001-- $1,376,838
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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        Climate risks

        Neighborhood: 94965

        Getting around

        59 / 100
        Somewhat Walkable
        36 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • District: Sausalito Marin City Schools

        Source: BAREIS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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