Can you imagine someone paying $100k for nothing but a parking spot in a garage?
In San Francisco that’s exactly what one downtown spot is selling for.
And oh yeah, there’s also a $28.80 monthly HOA fee on top of that.
Yahoo reports 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.
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.”