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  • 960 The Ref

    House for sale in San Francisco for $488K but there is a catch

    By Jessica Goodman, Cox Media Group National Content Desk,

    2024-06-22
    https://img.particlenews.com/image.php?url=2YVlaL_0u0KDlz200

    Looking for a home in one of the most expensive places to live in the country? You can for a decent price but there is a small catch.

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    The catch is that you can’t move in until 2053, according to the San Francisco Chronicle .

    “Current tenant claims SF City tenant protection class status,” the listing says, according to the newspaper. “Tenant’s current lease appears to grant tenants strong long-term rent rate restrictions, unconventional methods of rental payment, and possible occupancy rights until 2053.”

    “Thirty years. I don’t think I’ll be around for that,” said Ilia Smith, a neighbor, according to KF SN.

    “The new owner would have to buy the house subject to a very long rental lease that is currently being offered to an individual,” Tim Smith, another neighbor, told the news outlet.

    The house is listed as a single-family house. it will be sold as an “investment opportunity for just the right buyer” and will be sold as-is, according to the Chronicle.

    It has three bedrooms and two bathrooms and is located in San Francisco’s Russian Hill neighborhood, according to Zillow , per USA Today. It is about 1,100 square feet, KFSN reported.

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