You got it right Rick. In the lower right hand corner you can see what is the 11th green. The big flat pad is where all the townhouses are now. The heavely wooded area in the center of the pic is where the 3rd green 4th tee and 6th green are all located. A few houses are being built on what would be the 12th fairway.
It looks like Peacock Gap to me. There is a barn in the middle on the right that looks familiar. They used to keep old golf carts and equipment in there. I went inside a few times.
I'm guessing it's Las Gallinas Golf Course (where Smith Ranch Homes is now) The road is the one leading to the club and that scuba diving school that was also there. 101 is on the far side. Over the low ridge is Las Gallinas Ave going from TL to Marinwood. The high ridge is Lucas Valley open space / Big Rock Ridge.
That's just my guess and I would be happy to hear others.
Edit, That high mound on the right, I don't remember which kinda throws me off.
I found this picture in the Cushman Archive, and the location looks so familiar but I can't figure out where it is. It was taken June of '61 and the caption reads, "Outer San Rafael New residential community in the making." It looks vaguely like the hills above the Civic Center, except that I think it would have already been under contruction by this time. Santa Venetia? Terra Linda?