A single San Francisco parking space is selling for $90,000
Tired of driving around looking for a spot to park before a San Francisco Giants home game?
For the one-time price of $90,000 you’ll never have to worry again, according to a real estate post advertising a parking spot a block from Oracle Park in San Francisco.
The spot, under a condo, is for sale, for residents or nonresidents.
“If you’re going to spend $200,000 on some luxury vehicle, why not spend $90,000 on somewhere safe to keep it?” said Bill Williams, who is selling the spot for Compass Real Estate.
The current owners of the parking spot bought it for $85,000, but haven’t yet found a new buyer, Williams said.
When developers build affordable housing in a luxury complex like the Grand LA, the units are added to a regional pool that are rented out by lottery.
It does not come with the condominium, the real estate agent pointed out. Before it was listed for sale, the space was leased for $300 per month.
The convenience of the spot, with its proximity to the Giants stadium, is part of the reason it goes for such a hefty price.
That and the fact that parking in the dense city is so hard to come by.
“There are policies in place to limit parking… the government wants to make [San Francisco] a walkable place,” said Williams.
The spot for sale’s neighboring space sold for $82,000 in 2013, when Oracle Park was still known as AT&T Park.
Home buyers are regaining leverage as the housing market slows, new data from Redfin show, but in L.A. County, sellers still have the upper hand.
At the time, the real estate agent who sold it called that price “a nice, conservative number.”
The cost of the spot doesn’t even compare to parking spaces in luxury New York condos, which go for up to $1 million.
But what makes the San Francisco spot unique is that it is not connected to an apartment, as most parking spots are.
“The policy of most buildings is that you have to be a resident of the building in order to use the parking space,” Williams said. “It’s kind of a special situation.”
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