Compass Real Estate
- San Francisco has a notoriously high cost of living. That can also extend to the cost of keeping a car in the city.
- Case in point: A parking space at a condo complex near Oracle Park is currently on sale for $ 90,000.
- The spot is currently being leased for $ 300 a month, so it'd take 25 years to get your money's worth.
San Francisco is one of the most expensive property markets in the US, and an unusual new listing shows just how pricey it can get.
Located in the city's South Beach neighborhood, 88 Townsend St., is on sale for $ 90,000. At first glance, that seems exceptionally cheap in a city where the median home price is $ 1.3 million.
But 88 Townsend Street isn't a home — or any residential space for that matter. It's a parking spot.
"This is a PARKING SPACE ONLY," reads its listing. "It is NOT a condo but a single parking space near the lobby."
The listing says the spot is currently being leased for $ 300 per month. At that rate, whoever buys the space will have to use it for 25 years to get their money's worth.
The space is one block away from the baseball stadium Oracle Park.
Though tenants usually only get one parking space in such a building, the listing agent for the spot, Bill Williams of Compass Real Estate, told USA Today that his clients bought this spot in addition. The space can be used by a building resident or someone who doesn't live there.
In 2020, another South Beach parking spot in San Francisco listed for $ 100,000. But San Francisco isn't the only big city with pricey parking.
New York City has $ 1 million parking spaces. In 2018, a Hong Kong couple sold a parking spot for HK $ 6 million, or roughly $ 760,000, setting a new property record at the time.
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