SAN FRANCISCO -- What’s eight feet wide and 12 feet deep and sells for $82,000?
As it turns out, a parking spot near San Francisco’s AT&T Park.
The enclosed parking spot in a condo building in the South Park neighborhood is creating buzz in a town where the housing market is so hot most things fail to startle.
But San Francisco Chronicle columnist C.W. Nevius reports Thursday the parking deal might be part of a new trend. The spot was sold last week by Sean Sullivan, an agent with Climb Real Estate who had some experience: He sold another one in the same building for $95,000 during San Francisco’s last boom.
The buyer declined to be interviewed by Nevius, but Sullivan seemed more than happy to chat, calling $82,000 “a nice, conservative number,” and joking that he should have launched a full-on real estate agent pitch by bragging about the stippled concrete and no-skid features.
In all seriousness, Sullivan noted, parking can add as much as $100,000 to the sale price of a property, so this may have been worth the investment. It can also be rented out to others, not a bad deal in a neighborhood where sliding scale parking meters have gone into effect during crowded events.
The owner has a deed for the little piece of land and paid cash for the spot, which was only on the market for two weeks.