Spanish-Style Triplex with Bay
New
For Sale
$2,778,000
2 Lower Crescent Avenue, Sausalito, CA 94965
Residential Income, Sausalito, CA
Property Size3,515 SF
Lot Size0.12 Acres
Price / SF$790.33
Days on Market2
Property Features for 2 Lower Crescent Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 7, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 8, Bathroom 5
Parking features
Garage
Patio and Porch features
Deck
Exterior features
Yard Space
Appliances
Dishwasher, Disposal, ENERGY STAR Qualified Appliances, Free-Standing Gas Range, Free-Standing Refrigerator, Gas Water Heater, Insulated Water Heater, Varies By Unit
Lot features
Corner Lot, Garden, Landscape Front, Private
View
Bridge
Elementary school district
Sausalito Marin City Schools
Middle school district
Sausalito Marin City Schools
High school district
Sausalito Marin City Schools
Directions
From Alexander Avenue, head west onto Main Street. Up 4 blocks on the right side. Corner of Main and Lower Crescent Avenue.
Subdivision
Sausalito
Standard status
Active
APN
06523146
Size
3,515 SF
Lot size
0.12 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s)
Amenities
terrace
garden
fountain
Building Details
Year built
1906
Floors in Building
3
Number of units
3
Flooring type
Tile, Wood
Building materials
Stucco
Roof type
Composition
Architectural style
Spanish
Listing Agency:
Golden Gate Sotheby's International Realty
(415) 456-1200
Listed By:
Jennifer Maniar
(415) 816-8080
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 3:06PM
MLS# 326048428
Copyright © 2026 Bay Area Real Estate Information Services, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Spanish-style triplex encompasses 3,515 square feet on a 0.1166-acre parcel. Built in 1906, the property features stucco construction, wood and tile flooring, central heating, ceiling fans, composition roofing, and a garage. The room inventory includes eight bedrooms and five bathrooms across the three-unit configuration.
Outdoor areas include decks, landscaped yard space, terraces, gardens, and a fountain. The setting provides views toward Alcatraz, Angel Island, and the Bay. The property is located on Lower Crescent Avenue in Sausalito, with downtown shops, dining, and the bay within walking distance. Public sewer and cable availability serve the property, and kitchens include dishwashers, disposals, gas ranges, refrigerators, and gas water heaters.
Outdoor areas include decks, landscaped yard space, terraces, gardens, and a fountain. The setting provides views toward Alcatraz, Angel Island, and the Bay. The property is located on Lower Crescent Avenue in Sausalito, with downtown shops, dining, and the bay within walking distance. Public sewer and cable availability serve the property, and kitchens include dishwashers, disposals, gas ranges, refrigerators, and gas water heaters.
Key Highlights
- Triplex with 3,515 square feet of property size
- 0.1166‑acre parcel in Sausalito, CA 94965
- Spanish architectural style with 1906 construction date
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
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - 1906 multifamily property with terraces, gardens, and a garage.
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: Triplex with 3,515 square feet of property size; 0.1166‑acre parcel in Sausalito, CA 94965; Spanish architectural style with 1906 construction date
