Listed by Yasmine McGrane of Corcoran Icon Properties
Investor Alert! Rare trophy property 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.

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Property Details of 516 Richardson Street

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Based on information submitted to CA_BAREIS as of July 2, 2026 7:33 AM UTC . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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