Cheapest Listing in San Francisco? A $100k Parking Spot
February 6, 2020
Home shoppers may have been excited when they saw a $100,000 listing price in San Francisco appear. But upon closer inspection, they then realized it was not for a home—it was for a parking spot.
That $100,000 parking spot has become the most affordable piece of real estate currently available in San Francisco. To some, it may be viewed as a deal, considering that a one-bedroom, one-bathroom, 644-square-foot condo in the city is currently listed for $849,000, SFGate reports.
The listing for the parking spot—number 140, to be exact—is in a condominium complex located in a prime San Francisco neighborhood, one block from Oracle Park. The parking spot is being listed by Bill Williams, a real estate professional with Compass. He’s pitching it as an investment.
“When you buy any asset and you have it, it’s not like you spent the money. You can turn around and sell it again,” Williams told SFGate. “You could leave [$100,000] in your bank account and you might see the same return, but you wouldn’t have a parking spot.”
Another parking spot sold a few spaces away in November for $90,000.
Pricey parking spots are nothing new in big cities. In 2015, parking spots in Manhattan hit the market for a $1 million asking price.
“The Only Piece of Property You Can Buy for $100k in San Francisco Is a Parking Spot,” SFGate (Feb. 3, 2020) and “San Francisco’s Cheapest Real Estate Listing Is a $100k Parking Spot,” New York Post (Feb. 5, 2020)
Updated: July 10, 2020