A house in San Francisco, California that has been described as the least expensive in the city still costs more than half a million dollars.
According to SFGate, the home, located in the city’s Glen Park neighborhood, is 570 square feet with one bathroom. It doesn’t have a garage.
Meanwhile, according to Google Maps pictures, the property doesn’t appear to have a front yard.
The home, on 17 Laidley St., was listed in March for $675,000, but the agent took if off the market in August.
The residential property was placed on the market for $599,000, SFGate reported. The home had its bathroom and kitchen renovated in recent days.
“We’ve been getting all kinds of activity. I’m getting calls from people down south, and they’re saying hey, I can get a house in SF for $599,000 I want it now. Some people are saying I don’t even know what I’d do with it yet, but I want it,” listing agent Jeff Appenrodt with Laurel Realty told the news outlet.
In San Francisco, the median price for a home is $1.35 million, reported the San Francisco Chronicle, citing CoreLogic. In the Bay Area, the median price paid was $815,000 in July.
CoreLogic wrote, “Before this March, the median sale price had risen on a year-over-year basis for 83 consecutive months,” according to the Chronicle.
Appenrodt told the website that the home has a basement and an attic that could add more square footage to the house if finished.
Realtor.com calculated that with a 30-year fixed mortgage, the home would cost $3,037 per month after property taxes are factored in along with a 20-percent down payment.
Meanwhile, CBS San Francisco reported that San Francisco’s Laidley St. home prices have soared in recent years.
“We have buyers, typically younger, high-tech buyers who are massively wealthy, typically suddenly so, and they’re not really interested in the mansion in Pacific Heights,” said Patrick Carlisle with Paragon Real Estate, according to the station. “They want a beautiful new home, they want a high-tech home, they want a neighborhood ambiance that is lower-key and more relaxed.”
Real estate agents said that Apple Inc. executives have remodeled three homes in the area.
“It’s gotta be sad you know, we have four children who can’t afford to live here, and we’re lucky because my mother-in-law bought this house in the fifties (at) $50,000 or so for two lots,” local woman Judy Tergis, who is a third-generation San Francisco, told the CBS affiliate.