Living in the city can be extremely expensive. Not only are the houses often overpriced, but you also often have to spend a small fortune if you wish to be entitled to your own parking space!
A parking space in the basement of a residential complex in San Francisco is on the market for $100,000 US which is half the price of an average home in the United States, reports Business Insider.
The parking lot is located in the South Beach district of San Francisco. You may know that neighbourhood because of the Oracle Park. It is also in this district that we find the Academy of Art University.
The $100,000 parking space has been on sale since mid-December and even if its price seems extravagant, it is not the first time that people have seen something like this in San Francisco.
Another parking space in the same garage sold for $90,000 last November according to real estate broker Bill Williams who gave an interview to SFGate. A person had therefore offered the same amount for the new parking space, but the client refused the offer.
In the description, the real estate broker indicated that it is a great opportunity for an investor, because of the location being just around the corner from the park.
"It's a safe place to invest your money," said Bill Williams at SFGate, adding that it is an attractive alternative to the stock market that can fall at any time.
In addition, this parking space is currently rented for $300 per month, ensuring an attractive income of at least $3,600 per year!
Would you be interested in paying a high price for your own parking space?