Tenant-Occupied Triplex with
For Sale
$2,750,000
158 Edwards Avenue, Sausalito, CA 94965
Three-unit triplex includes a tenant-occupied studio, a one-bedroom with patio, and a light-filled penthouse.
Property Size2,716 SF
Price / SF$1,012
Days on Market42
Property Features for 158 Edwards Avenue
General Information
Standard status
Active
Size
2,716 SF
Total Parking Spaces
3
Property subtype
Residential Income
Additional Details
Business Included
Yes
Multifamily Units
3
Amenities
Central
Bay, Panoramic, Water
Carport, Garage
Craftsman
Building Details
Year Built
1902
Buildings
1
Tenancy
Multi
Listing Agency:
Decker Bullock Dreyfus, Inc
(415) 407-8349
Listed By:
Susan Hewitt
(415) 407-8349
Source:
Evrealestate
Added: Jul 15
Changed: Aug 24
Last Checked: Aug 1 at 6:47AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Decker Bullock Dreyfus, Inc
Investment Insights
Based on property information with market context.
This desirable three-unit triplex includes a tenant-occupied studio with high ceilings and a private courtyard, a middle one-bedroom unit with an updated kitchen and private patio, and a light-filled penthouse with elevated outlooks. Interiors have been updated, and the penthouse includes a built-in wine tap. The middle unit offers potential to convert to a two-bedroom. Additional building features include a historic garage, off-street parking, two laundry rooms, and storage.
Located in the heart of Sausalito, the property is moments from the waterfront, shops, and dining. Bike and walk scores indicate somewhat bikeable and somewhat walkable access to nearby amenities.
The building’s versatile floor plans support multiple living configurations, including owner-occupancy or investment use, with the studio currently rented at $2,450 per month.
Located in the heart of Sausalito, the property is moments from the waterfront, shops, and dining. Bike and walk scores indicate somewhat bikeable and somewhat walkable access to nearby amenities.
The building’s versatile floor plans support multiple living configurations, including owner-occupancy or investment use, with the studio currently rented at $2,450 per month.
Key Highlights
- 1902‑built 3‑unit triplex with a tenant‑occupied studio, a one‑bedroom, and a light‑filled penthouse unit
- Studio has high ceilings and a private courtyard; current rent is $2,450/month
- Penthouse unit offers bay and Angel Island elevated outlooks and spacious living areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$91,163
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,823,260
$1.8M
Cap Rate 7%
$1,302,329
$1.3M
Cap Rate 9%
$1,012,922
$1.0M
Market Conditions
NOI Build-Up for 2,716 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$138.5K $51.00/SF
− Vacancy
−$8.3K −$3.05/SF
EGI
$130.2K $47.95/SF
− OpEx
−$39.1K −$14.39/SF
NOI
$91.2K $33.57/SF
Area
Marin County, CA
Vacancy
5.98%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,823,260
Cap Rate 7%
$1,302,329
Cap Rate 9%
$1,012,922
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.14M – $1.52M
NOI $91,163 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$562.1K
$491.8K – $655.7K
NOI $39,344 @ 7.0% cap · market cap 1.43%
Theoretical Best
Specialty Retail
$13.27M
$11.61M – $15.48M
NOI $928,658 @ 7.0% cap · market cap 33.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 94965, CA
11,447
Population
6,797
Households
1.7
Avg Household Size
50
Median Age
65%
College-Educated
93%
High-School Grad
14.6 sq mi
ZIP Area
784
Density / Sq Mi
$140,417
Median Household Income
$84,023
Median Earnings
$2,952
Median Rent
$1,492,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex includes a tenant-occupied studio, a one-bedroom with patio, and a light-filled penthouse.
Where is this triplex located?
The property is located at 158 Edwards Avenue Sausalito, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 1902‑built 3‑unit triplex with a tenant‑occupied studio, a one‑bedroom, and a light‑filled penthouse unit; Studio has high ceilings and a private courtyard; current rent is $2,450/month; Penthouse unit offers bay and Angel Island elevated outlooks and spacious living areas
