Mediterranean-Style
For Sale
$2,778,000
2 Lower Crescent Avenue, Sausalito, CA 94965
Three-unit property with Bay views, landscaped outdoor areas, and walkable access to downtown Sausalito.
Property Size3,515 SF
Price / SF$790.33
Days on Market112
Property Features for 2 Lower Crescent Avenue
General Information
Standard status
Active
Size
3,515 SF
Property subtype
Multi-Family (2-4 Units)
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$38,395
Amenities
terraces
gardens
fountain
Building Details
Building Size
3,515 SF
Year Built
1906
Construction
Mediterranean
Listing Agency:
Golden Gate Sotheby's International Realty
Listed By:
Jennifer Maniar
(415) 816-8080
Source:
Gregglynn
Added: Jun 5
Changed: Sep 18
Last Checked: Sep 22 at 9:21PM
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 Golden Gate Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 3,515-square-foot triplex dates to 1906 and features Mediterranean-style architecture with multiple outdoor areas, including sunlit terraces, landscaped gardens, and a fountain. The property’s three-unit configuration supports both multifamily ownership and an owner-occupied arrangement with supplemental income, as described in the offering materials.
Positioned above old town Sausalito, the property has views toward Alcatraz, Angel Island, and the Bay. Downtown Sausalito, shops, dining, and the waterfront are within walking distance, providing direct access to the city’s established retail and leisure amenities.
Positioned above old town Sausalito, the property has views toward Alcatraz, Angel Island, and the Bay. Downtown Sausalito, shops, dining, and the waterfront are within walking distance, providing direct access to the city’s established retail and leisure amenities.
Key Highlights
- 3,515‑square‑foot triplex built in 1906
- Mediterranean‑style architecture with three‑unit configuration
- Views toward Alcatraz, Angel Island, and the Bay
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
$117,981
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
4.25%
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%
$2,359,620
$2.4M
Cap Rate 7%
$1,685,443
$1.7M
Cap Rate 9%
$1,310,900
$1.3M
Market Conditions
NOI Build-Up for 3,515 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
$179.3K $51.00/SF
− Vacancy
−$10.7K −$3.05/SF
EGI
$168.5K $47.95/SF
− OpEx
−$50.6K −$14.39/SF
NOI
$118.0K $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%
$2,359,620
Cap Rate 7%
$1,685,443
Cap Rate 9%
$1,310,900
Alternative Uses
Best Use
Multifamily LT 5
$1.69M
$1.47M – $1.97M
NOI $117,981 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$727.4K
$636.5K – $848.7K
NOI $50,919 @ 7.0% cap · market cap 1.83%
Theoretical Best
Specialty Retail
$17.17M
$15.02M – $20.03M
NOI $1,201,853 @ 7.0% cap · market cap 43.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
513
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with Bay views, landscaped outdoor areas, and walkable access to downtown Sausalito.
Where is this triplex located?
The property is located at 2 Lower Crescent Avenue Sausalito, CA.
What is the asking price?
The asking price for this property is $2,778,000.
What are key features of this property?
This property features: 3,515‑square‑foot triplex built in 1906; Mediterranean‑style architecture with three‑unit configuration; Views toward Alcatraz, Angel Island, and the Bay
