06/25/2024
This move will take a while 😮
A home in an upscale San Francisco neighborhood has been listed for an unexpectedly low $488,000. However, potential buyers should note that they won't be able to move in for nearly 30 years.
The home is tenant-occupied, with the occupants holding what is described as “SF City-tenant protection class-status,” according to the listing. These tenants potentially have rights to remain in the home until 2053, implying that the new owners might have to wait almost 30 years before moving in.
The listing indicates that the tenants' current lease includes strong long-term rent restrictions and an "unconventional method of rental payment." The current monthly rent stands at $416.67, with the tenants also covering their garbage, water, gas, and electric expenses.
Moreover, neither the seller nor the agent can guarantee access to the property for the new owners. The previous homeowner, who passed away at the age of 100 due to natural causes, had owned the house until their death.
The 3-bedroom, 2-bathroom home came onto the market on June 6th and is currently pending.
