One Parcel with two structures (3 units) at the corner of Spring/Gordon Street, Sausalito
Great investment opportunity!
Not on the market for over 30 years, these two homes with 3 legal rentable units on one parcel at the corner of Spring and Gordon are a terrific investment/development opportunity! Property was shown/sold in As Is condition.
720 SPring Street - Cozy 2BR/1BA Cottage built in the 40's is curently rented through December 2019 at $2800/mo. Living room has wood burning free standing fireplace vaulted ceiling with skylight...Some windows have been replaced with dual pane... Large deck off kitchen is private and easily accessible. One car off street parking. Building is not in good condition and is being sold as is. All inspections/reports are available for review.
8 Gordon - This 2nd structure was originally built in the 60's as a single family home with 2 covered carports below. It was convereted to two units sometime in the 70's (not by current owner) with the lower unit 8B entering on the street level into what was the carport on the left side. The two units share utilities (furnace and hot water heater located in lower unit) and washer/dryer located in 1 car garage. There is an off street, uncovered parking space for each unit, and shared storage in garage and under the home. The structure has much deferred maintenance and will need quite a bit of work to bring it up to current building standards/code.
8A - Upper level 2BR/1.5 BA VIEW unit is accessed through the one car garage. A large view deck is the landing area from the garage and extends the full length of the living area and opens to the master suite. This unit is slightly over 1k s.f. of living space (per floor plans provided by Home Depot) and has a large open living and dining room that opens to the kitchen, free standing wood stove and newer Pergo (wood laminate) floors along with new carpet. The panoramic Bay views can be seen from most of the living area of this level. This unit is in decent condition and is current vacant. Recent rent was $2800/mo and projected rental income is approximately $3k/mo. As Is.
8B - Lower level unit is legal/non-conforming. This unit has a level street entrance is one bedroom with large living area and small bathroom/kitchen, but surprisingly spacious (over 700 s.f. per floor plan measurer). Current long time resident is below market rent through December 2019
This property has a sale pending, with multiple offers. No further showings at this time.
A complete Disclosure package, including inspections and Preliminary Title report, is available upon request.
** Photos are virtually staged by Aaltohomes.com