SAN FRANCISCO (KPIX 5) — There’s not much you can get real estate-wise in San Francisco for under a million bucks. But how about under 100 grand? KPIX found one deal that hit the market, but like any deal that’s too good to be true, there’s quite the catch.
In case you needed any more proof that the city’s real estate market may be reaching the point of ridiculousness, a driveway has hit the market with an asking price of $50,000. It’s 81 22nd Avenue in the Light District, but you better enjoy weather-beaten concrete and fresh air.
Fred Glick is the real estate agent for the property. He says the owner is an East Coast investor who bought the property at a tax auction.
“I don’t think he knew what he was buying. He just saw an address in San Francisco for a cheap price, and he thought, ‘why not, let’s try it,’” Glick told KPIX 5.
After coming up with a street number so it could be listed on the MLS, Glick says he’s received calls from buyers willing to build long, skinny houses on the land.
“The problem is, there’s nowhere to do it. It is just a driveway that goes into people’s garages,” Glick said.
On top of that, all homeowners with property on Lake, and West Clay have easements to get their cars in and out.
Neighbors think someone might be willing to pay for the driveway to other people’s beds.
“It’s good if you can find somebody with money to make a mistake like that,” said Bob Starzel.
And Glick says having a San Francisco address does have its perks. “You can get a discount at San Francisco golf courses I’m sure. So if you’re playing a lot of golf, you might make it up in 30 years,” he jokes.