A Richmond District alley is the most affordable real estate listing in San Francisco
May 8, 2017
As reported in a recent article in San Francisco Gate, a Richmond District alley was listed for $35,000.
This certainly makes for one of the most odd and affordable pieces of San Francisco real estate to hit the market recently.
The somewhat narrow stretch of pavement between 22nd and 24th avenues acts as a shared driveway that runs behind a row of homes a block from the Presidio. The alley must be accessible to the homeowners.
The challenge of attaining interested buyers is that there's nothing you can do with this land. You can't build on it or park your vehicle there, but you are required to pay taxes and insurance and keep it well-maintained.
So why would anyone ever want to own this alley?
"You can say you own a piece of San Francisco property, or just for fun,” said listing agent Fred Glick of Arrivva. “Actually, I really don't know why anyone would want it, but there are a lot of people doing strange things out there."
In a tongue-in-cheek blog post on Medium, Glick offered up some other outlandish ideas such as "Get a price to [remove] all of the driveway cement, sell off a piece of San Francisco to collectors around the world and pay for a new driveway and a profit."
Glick said the current owner, who lives on the East Coast, bought the alley at a city tax auction without having seen it prior to purchasing it. Now he wants to sell it because he realized it would be a liability.
The listing agent explained that the entire block was originally owned by a corporation and when the individual homes were sold off, the company kept the drive.
"Then one day, the corporation disappeared, for a reason I don't know," Glick added, "And the property went up as a tax sale."
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