Unbelievable Deal: San Francisco Home Listed for under $500K but You Can’t Move In for 30 Years!

SAN FRANCISCO, CALIFORNIA – A unique real estate listing in a high-end San Francisco neighborhood has caught the attention of potential homebuyers with its unconventional terms. Located in the trendy Russian Hill neighborhood, a 3-bedroom, 2-bathroom Edwardian-styled home is currently on the market for $488,000. However, what sets this property apart is that the new owner will not be able to move in for nearly 30 years.

The listing, posted on Zillow, reveals that the property is currently tenant-occupied with the tenants holding occupancy rights until 2053. This means that a buyer will have to wait until 2053 to formally move into the home. The current monthly rent paid by the tenants is $416.67, although the listing mentions an unconventional method of rental payment.

Neighbors in the area have expressed surprise and curiosity about the listing, with one neighbor mentioning that the idea of waiting 30 years to move into a home is a novel concept. The property, built in 1924, features a driveway, garage, and fenced-in backyard on a 3,262-square-foot lot.

The real estate market site estimates the current value of the property at $526,500, a significant drop from its previous valuation of $1.5 million. According to experts, the property may be appealing to a unique buyer willing to purchase at a discounted rate and wait for decades before gaining access to the home.

In the same neighborhood, another notable real estate transaction took place when Leslie Stretch, CEO of customer experience software company Medallia, sold a luxury row house for $10 million after purchasing it for $20 million. The sale highlights the dynamic and sometimes unpredictable nature of the real estate market in the area.

The listing for the tenant-occupied home has garnered significant interest, with thousands of views within a short period. While the terms of the sale may deter some buyers, others may see it as an intriguing investment opportunity in one of San Francisco’s most sought-after neighborhoods.