$82,000 -- Worth it for a parking spot? [Talk back]
Parking in Los Angeles can be rough, but is saving money on tickets or hours hunting for an empty curb worth $82,000?
It is in San Francisco, apparently. A spot near AT&T; Park in the trendy South Beach neighborhood sold for $82,000 after just two weeks on the market, the San Francisco Chronicle reported.
The 8- by 12-foot parking spot, in an enclosed garage in a condo building, is creating buzz in a town where real estate prices are surging.
The spot was sold by Sean Sullivan with Climb Real Estate, who, during the last San Francisco real estate boom, sold a spot in the same building for $95,000.
Though it may seem like a lot, the space could be a good investment, Sullivan said, especially in a neighborhood where sliding-scale parking meters have gone into effect during crowded events. It can be rented out at rates of $400 to $450 per month, the going rate in South Beach, and can add as much as $100,000 to the purchase price of a property.
How much would you be willing to pay for parking in a packed neighborhood on the rise? Let us know where you stand in the comments below or by tweeting @LANow.
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