507 Easterby Street
Sausalito, CA 94965
Welcome to 507 Easterby Street a four-unit apartment building located just off of Bridgeway in the highly prestigious and charming town of Sausalito. Located just over the Golden Gate Bridge from San Francisco, Sausalito is famous for its high quality of life, stunning views of the Bay, weather, sailing, and boutiques.
This pride of ownership property is one of only 51 fourplexes in Sausalito and it is nestled in a community of multimillion dollar homes. It can be operated as an investment property or single family home alternative and is offered at the lowest price per square foot of any residential property in Sausalito.
507 Easterby Street has one two-bedroom/one-bathroom unit with bay views and three one-bedroom/one-bathroom units. The three one-bedroom units have been kept vacant for sale which provides the new owner with the option to hand pick future tenants, remodel units, or owner-occupy 1 or more units.
The property has a large 5,000 square foot lot which is 200 feet deep, most of which is currently used as a backyard. ADU consultancies have determined that two ADUs can be built in the backyard for a total cost of about $800,000. These additional units would add significant value to the property and the CAP rate upon completion is expected to be above 6%.
Current ownership has recently completed substantial capital improvements. These include electrical service with new main and sub-panels, copper piping, a new roof, fumigation, and paint work. 507 Easterby Street offers the new owner the opportunity to increase income and add further value by upgrading the existing unit interiors to meet the preferences of high-income San Francisco employees.
507 Easterby Street is a short walk from the world class shopping and boutiques on Bridgeway. Popular venues include Fish, Equator Coffee, Above Category Bikes, Heath Ceramics, Bar Bocce, Sushi Ran and the many amenities of Downtown Sausalito. The property is also near many scenic trails including Rodeo Trailhead, Alta Trail, and Morning Sun Trailhead. The Bay, Blue Water Yacht Harbor, and Schoonmaker Point Marina are located directly across Bridgeway and one can bike or walk over the Golden Gate Bridge in addition to taking the Ferry or driving to San Francisco. The rent growth, shortage of housing units, and ADU potential make 507 Easterby Street a great opportunity for both the cash flow and appreciation-minded investor.