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article imageParking spot in San Francisco sells for $82K

By Leigh Goessl     Jun 13, 2013 in Technology
San Francisco - A parking spot in San Francisco recently sold for $82,000. Parking is typically at a premium in San Francisco, but even this price has shocked some residents, according to media reports.
Anyone who has been to San Francisco is probably familiar with the high cost of real estate along with the difficulty in finding parking. A recent sale of a parking spot has created some buzz with local residents. According to San Francisco Gate, local agent Sean Sullivan, with Climb Real Estate, sold a parking spot for $82,000.
The parking space is located in South Beach, only a block away from the San Francisco Giants' baseball park. The spot is 8 feet by 12 feet in size and is located in an enclosed area.
"We had a very good response right out of the gate," said Sullivan, according to the Associated Press (courtesy The Province). "It was only in the market two weeks."
Sullivan also noted he's sold parking spots before, even selling one for $95K in recent years. He says that a parking space can add substantial value ($100,000) to the sale price of a property.
Additionally, some people rent out spaces for the going rate of $400 to $450 per month, so buying a parking space in the area could be considered a good investment.
"The person who bought this spot can use it when he goes to Giants games or he can rent it if he wants," Sullivan told Fox News. "It could make for steady income."
Reportedly, the buyer did not respond to any media requests for an interview. Reports did say the individual paid in cash and now has a deed to the space.
More about San Francisco, parking spot, san francisco parking, Parking
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