- A parking space in San Francisco is on the market for $100,000.
- The tenants of the apartment were previously renting the space for $300 per month.
- The space is selling separately from the apartment at the same address, which just sold for an undisclosed amount.
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San Francisco is famously expensive, and this parking space selling for $100,000 is nearly half the cost of the average US home.
This parking spot in San Francisco's South Beach neighborhood has been listed since mid-December, and the price isn't necessarily outlandish. Realtor Bill Williams told SFGate that another space in the same garage sold for $90,000 in November.
In the listing, Williams emphasizes the prime location of the spot. " Great parking spot for investor clients, 1 block from the ballpark!" The listing also starts out with a call to "PARK YOUR MONEY." "It's a safe place to park your money," Williams told SFGate. "It could be a nice hedge against the stock market dropping."
Spot 140 in the garage could be a sound investment, given that the current owners rent that space out for $300 a month.
And, in case the buyer somehow thinks they've found the deal of the century for an apartment, the listing clarifies "To be clear: This is for a PARKING SPACE ONLY."
See inside here.
The apartment in 88 Townsend was formerly a 19th-century warehouse that has since been converted into 112 condos, plus a shared courtyard and roof deck.
Dan DoddThe apartment that just sold has its own terrace.
Dan DoddThe light-filled apartment is a one-bedroom with an open floorplan.
Dan DoddThe living room and dining area are connected.
Dan DoddThe kitchen is also in the same room.
Dan DoddThe 644-square-foot condo makes good use of a small space, with the capacity to fit several people at once.
Dan DoddMaybe the best deal of all, a deed to a parking spot is included in the purchase, according to Dodd.
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