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.
Active
Price cut: $195K (7/14)
$4,500,000
516 Richardson Street, Sausalito, CA 94965
10beds
5,577sqft
Multi Family
Built in 1925
-- sqft lot
$4,301,700 Zestimate®
$807/sqft
$-- HOA
What's special
Classic period detailsMediterranean-style villaOffice spacePrivate entrancesFour garagesHardwood floors
- 113 days
- 1,308
- 88
Zillow last checked:
Listing updated:
Listed by:
Yasmine McGrane DRE #02133303 415-298-7775,
Corcoran Icon Properties 415-496-2600
Source: BAREIS,MLS#: 326035729
Originating MLS: Marin County
Originating MLS: Marin CountyFacts & 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: $4,334,952
- Date on market: 5/11/2026
- Tenant pays: Cable TV, Electricity, Gas, Trash Collection, Water
- Electric utility on property: Yes
Estimated market value
$4,301,700
$4.09M - $4.52M
$6,249/mo
Price history
| Date | Event | Price |
|---|---|---|
| 7/14/2026 | Price change | $4,500,000-4.2%$807/sqft |
Source:  BAREIS #326035729 Report a problem | ||
| 5/11/2026 | Listed for sale | $4,695,000+10.5%$842/sqft |
Source: BAREIS #326035729 Report a problem | ||
| 9/12/2024 | Sold | $4,250,000-5.6%$762/sqft |
Source: BAREIS #324031106 Report a problem | ||
| 9/7/2024 | Pending sale | $4,500,000$807/sqft |
Source: BAREIS #324031106 Report a problem | ||
| 7/5/2024 | Contingent | $4,500,000$807/sqft |
Source: BAREIS #324031106 Report a problem | ||
| 5/6/2024 | Listed for sale | $4,500,000+836.5%$807/sqft |
Source: BAREIS #324031106 Report a problem | ||
| 7/6/2007 | Sold | $480,500+16.1%$86/sqft |
Source: Public Record Report a problem | ||
| 11/9/1999 | Sold | $414,000-67%$74/sqft |
Source: Public Record Report a problem | ||
| 4/15/1999 | Sold | $1,255,000+25.5%$225/sqft |
Source: Public Record Report a problem | ||
| 12/10/1998 | Sold | $1,000,000$179/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $4,334,952 +2% |
| 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
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Neighborhood: 94965
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