A house is for sale in San Francisco at a price some residents may find shockingly low considering the costly Golden Gate City housing market.
The 3 bed, 2 bath home at 30 North View Court in the city’s Russian Hill neighborhood is up for $488,000, according to a listing posted on Zillow.
But there’s one catch: The new owner may not be able to move in until 2053.
According to the listing, the single-family home is currently tenant-occupied and to be sold as is. It’s described as an “investment opportunity for just the right buyer.”
“Current tenant claims SF City- tenant protection class- status,” it continues. “Tenant’s current lease appears to grant tenants strong long term rent rate amount restrictions, unconventional method of rental payment, and possible occupancy rights until 2053.”
The listing does not clarify what the unconventional method is.
Park North Real Estate listed the house on the website June 6. USA TODAY has reached out to Park North Real Estate.
Buying power shrinks more: Report says Americans may struggle for another five years
Current tenant may live there until 2053 and continue to pay same rate
Under an agreement, the listing reades, the current tenant can possibly continue to live there until 2053 and pay the same amount of rent each month − just under $417.
It goes on to say, the tenant will also also pay their own garbage, water and electricity bills.
Should I go into debt to fix up my home? High interest rates put owners in a bind
Nearly 30,000 views in 13 days
As of Friday morning Pacific Time, the listing had been on the market for 13 days and garnered nearly 30,000 views.
The 1,100 square-foot home, built in 1924, is on a “cute” cul-de-sac. It includes a driveway, garage and fenced-in backyard, the listing reads.
Disclaimer: Former owner, ‘over 100 years old,’ died in home
Another catch? The listing ends with the following disclaimer:
“Seller hereby reserves the right to reject, counter and/or accept any offer… Former male owner, over 100 years old died by natural cause in home.”
Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at [email protected] and follow her on X @nataliealund.
Copyright for syndicated content belongs to the linked Source link
