San Francisco, CA
San Francisco House Hits Market for Half Its Worth, but You Can't Move In Until 2053
A rare opportunity has emerged in the heart of San Francisco’s coveted Russian Hill neighborhood — but you’ll have to be patient if you want to buy it.
A charming three-bedroom Edwardian home has been listed at an astonishing $488,000 — a fraction of its true market value. However, potential buyers should be aware of a significant caveat.
The house, currently occupied by a protected tenant, comes with occupancy rights that may not be available for 29 years. The current tenant pays just $416.67 a month in rent, far below the market rate, and the resident “has possible occupancy rights until 2053,” the Daily Mail reports.
Despite this unusual arrangement, the property has attracted considerable interest. Over the weekend, prospective buyers formed lines around the block for a chance to view the house. By Sunday, the home was already under offer.
Located at 30 North View Court, this fully-detached Edwardian-style family home features an enviable position in one of San Francisco’s most desirable areas. The low listing price immediately caught the attention of many, especially given that the property could potentially generate an estimated $3,360 a month in rent.
The property came onto the market following the death of its previous occupant, who was older than 100 years old and passed away of natural causes inside the home.
While the situation may be complex, the allure of owning a piece of real estate in Russian Hill at such a bargain price continues to draw interest from potential buyers.
For now, it remains to be seen who will take on this unique real estate challenge and what the future holds for this historic home.
Watch CBS News
SAN FRANCISCO – Even as votes continue to be counted in California’s gubernatorial primary, one candidate spent part of Wednesday campaigning in the Bay Area.
Hilton looks ahead to November
Some were surprised to see Republican gubernatorial candidate Steve Hilton in San Francisco. With the primary election behind him, Hilton visited Osmanthus Dim Sum Lounge to meet with voters and begin laying the groundwork for a potential fall campaign.
Hilton acknowledged that ballots are still being counted and criticized the pace of the process, saying results should be available more quickly. Still, he expressed confidence that he will finish among the top two candidates and advance to the November election.
“This is my plan to grow my support,” Hilton said, gesturing to supporters gathered inside the restaurant. “To be out with the people of California desperate for change.”
Former Health and Human Services Secretary Xavier Becerra, another leading candidate, also projected confidence on election night.
“I take nothing for granted. There are lots of ballots to be counted; it appears we are on track to advance to November,” Becerra said.
Voters voice concerns
What they’re saying:
Among those attending Hilton’s event was Nelson Lum, a former San Francisco police officer who said he wanted to hear the candidate’s views on crime.
“It’s not an endorsement of anybody at this point,” Lum said. “I’m certainly not going to exclude anyone because I want to hear their views.”
Meina Young, with the Business and Housing Network, said she attended to discuss issues she sees as burdensome regulations in the rental housing market.
“I want to make our voices heard, and I feel that Steve has been very good,” Young said. “This is our second time meeting with him.”
Small protest outside event
Outside the restaurant, a small group of protesters gathered after noticing signage for the event. They said they are concerned San Francisco is becoming more welcoming to Republican candidates.
“We’re here today because we know San Francisco is a Democratic, progressive city,” said Romalyn Schmaltz. “We’re not going to just let a Republican come here and fundraise in our neighborhood without saying something.”
Counting continues
What’s next:
Ballots are still being counted statewide. More than 23 million ballots were mailed to California’s registered voters for the primary election.
The extended counting process often fuels accusations of irregularities. Election officials and supporters of the system, however, say the process takes time to ensure every eligible ballot is counted accurately.
The San Francisco Giants wrap up this four-game road series against the Milwaukee Brewers this morning.
Taking the mound for the Giants will be right-hander Adrian Houser, who enters today’s game with a 5.59 ERA, 5.21 FIP, with 35 strikeouts to 21 walks in 56.1 innings pitched. His last start was in the Giants’ 8-3 loss to the Colorado Rockies on Saturday, in which he allowed four runs on eight hits with four strikeouts and two walks in three and two thirds innings.
He’ll be facing off against Brewers right-handed rookie Coleman Crow, who enters today’s game with a 3.14 ERA, 3.73 FIP, with eight strikeouts to three walks in 14.1 innings pitched. His last start was in the Brewers’ 5-4 win over the Houston Astros on Friday, in which he allowed four runs (two earned) on four hits with one strikeout and two walks in four innings.
Who: San Francisco Giants (24-38) vs. Milwaukee Brewers (37-22)
Where: American Family Field, Milwaukee, Wisconsin
Regional broadcast: NBC Sports Bay Area
Radio: KNBR 680 AM/104.5 FM, KSFN 1510 AM
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