Anyone hunting for a home in San Francisco would have been excited to learn about the latest $100,000 listing in a city that typically has some of the most expensive properties in the nation. That is, until they realize the listing is for a parking space, rather than somewhere you may want to live.
The $100,000 parking space is nonetheless one of the most affordable bits of real estate in San Francisco. And for some, it may even be considered a good price, when you think the average one bedroom, one-bathroom, 644 square meter condo in the city fetches up to $849,000.
SFGate reported that the listing for the parking spot – number 140 – lies within a condominium complex in one of the city’s prime neighborhoods, just one block from Oracle Park. The listing agent is one Bill Williams of Compass, who says it could make for an excellent 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.”
And it seems that some would agree. After all, a 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.