There’s a new steal on the real estate market in San Francisco — by local standards, at least.
Sellers are asking $599,000 for a tiny, 570-square-foot home in the city’s southern Glen Park neighborhood, according to a listing that advertises an open house on Sunday afternoon. The listing for the property at 17 Laidley Street went up just over a week ago.
“Cheapest single family home in San Francisco!” the listing brags.
The petite white cottage has one bedroom and one bathroom, as well as a kitchen that was recently remodeled, the listing said. The lot is just 614 square feet, with no garage or yard, CBS SF reports. But the home is near public transportation and some restaurants, according to the TV station.
The median home listing price across the United States is $289,900, according to Zillow, an online real estate database. That works out to a median list price of $156 per square foot. If the San Francisco home were offered at the same rate, it would cost $88,920 based on square footage.
Instead, the San Francisco home is being sold at $1,051 per square foot, the listing said.
Renting is as bad as buying in the astronomically expensive Bay Area: To afford rent on a two-bedroom home, a worker would need to make $61 an hour — a salary of $127,000 a year, according to the “Out of Reach” report produced by the National Low Income Housing Coalition.
The home in San Francisco was originally put up for sale at $675,000 in March, but a buyer didn’t come along over the course of nearly 150 days and now real estate agent Jeff Appenrodt has relisted the property asking much less, SFGate reported.
“We went in and spruced it up and staged it,” Appenrodt said, according to SFGate. “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.”
Appenrodt said there’s room in the home’s attic and basement to add more living space, according to SFGate.