This San Francisco apartment building's parking spot will cost you $100,000

ByLuz Pena KGO logo
Saturday, February 1, 2020
This SF parking spot will cost you $100,000
$100K can get you a house in many places across the U.S., in San Francisco the only listing for $100K is a parking spot, and the listing agent says he's getting calls.

SAN FRANCISCO -- One hundred thousand dollars can get you a house in many places across the U.S. In San Francisco, the only listing for $100,000 is a parking spot, and the agent says he's getting calls.

"One block from the ballpark and one block from the Embarcadero so it's not only a good place to park your car, and to park your money," said Bill Williams with Compass Real Estate.

The parking spot is located in the South Beach neighborhood one of the most coveted areas in the city.

"I had a picture of it and everything and my phone was ringing off the hook. Because people thought $100,000 for property in San Francisco they were clamoring for that," said Williams.

The average parking price around the area is $15.

According to Williams they got a verbal offer for $90,000 but his clients didn't take it.

"It's all driven by supply and demand. We're surrounded by blocks of multimillion-dollar properties and they came with one parking space," said Williams.

Neighbors in the Townsend building are shocked, "It's ridiculous," said Peggy Chou.

"The thing that makes it so unique is that you don't have to live in the building to use it. So, somebody might just want to have their private parking for when they go to the ballpark or to park their antique car," said Williams.

As more buildings are going up in the city, parking is harder to find.

Sirine Khalifa got a $72 parking ticket across the Townsend listing and even though she was upset about the fine, she said she would use $100,000 for other things.

"For example for the homeless people there are a lot of people living on the street and for me that is not very humane," said Khalifa.

Henry Luong is a San Francisco parking enforcement officer who was also shocked by the listing.

"One hundred thousand dollars for a spot, no that's too much," Luong said. "You just have to be careful, just follow the rules."

Like every other unit in the building, whoever buys the parking spot will have to pay property taxes and an HOA fee of $28 a month.