A peculiar real estate opportunity has emerged in San Francisco’s upscale Russian Hills neighborhood, where a 3-bedroom, 2-bathroom Edwardian-style home has hit the market for a surprising $488,000. Located just two blocks from the city’s northern shore, the property promises an “excellent investment opportunity” according to its Zillow listing.
However, prospective buyers should take heed: the home is currently tenant-occupied under a unique rental agreement that grants occupancy rights until 2053. This arrangement means that any new owner would have to wait nearly 30 years before being able to move into the property themselves.
The listing mentions that the current tenants enjoy special rent rate restrictions and utilize an unconventional method of rental payment, with monthly rent currently set at $416.67. This unusual situation has sparked curiosity and bemusement among neighbors and potential buyers alike, highlighting the complexities of San Francisco’s housing market.
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