money
SF home priced at $488k low—but it's a hoax
A rare bargain in Russian Hill hides a costly catch—a tenant with potential decades-long rights.
Published June 21, 2024 at 10:42am by Natalie Neysa Alund
San Francisco Home Listed for $488,000 Comes With a Catch: Tenant May Stay Until 2053
A 3-bed, 2-bath home in San Francisco's Russian Hill neighborhood is listed at a seemingly low price of $488,000. There's a catch: the tenant may not vacate the property until 2053. Zillow listing reveals an "investment opportunity" with a long-term tenant, protected by SF City tenant laws. The tenant's lease grants them strong rent control, an "unconventional" payment method, and possible occupancy until 2053 for just under $417/month.
The listing, posted by Park North Real Estate on June 6, has garnered nearly 30,000 views in 13 days. The 1924-built home features a cul-de-sac location, driveway, garage, and fenced backyard. A unique disclaimer: the former owner, "over 100 years old," died of natural causes in the home.
URLs:
- Zillow listing: https://www.zillow.com/homedetails/30-N-View-Ct-San-Francisco-CA-94109/15070477_zpid/
- Natalie Neysa Alund's Twitter: Twitter.com/nataliealund
Read more: This San Francisco home is priced at a low $488K, but there's a catch