Can You Guess Why This Dump Is So Expensive?
This shabby looking dump, uh, I mean cabin, is listed for only a mere $350,000. SAY WHAAAAT???? That’s right – it’s currently for sale, but only for a person ready to pay more than a pretty penny for it. Now I’m sure you’re wondering why anybody would spend that much money for this disaster-zone. Well, believe it or not, this is actually claimed to be the cheapest property in San Francisco, which we all know is no joke since housing prices there are dangerously inflated.
It’s no secret that the San Francisco housing market is ludicrous. The average apartment in the city rents for $3,500 a month, and the median housing price just reached an all-time high of $1.2 million. For comparison’s sake, you could buy this 4,500-square-foot, six bedroom, 3.5-bathroom colonial mansion in Ohio for the same price. Walk across the street from the dilapidated shack, though, and you’ll pay twice the price for a similar house—so I guess the shack is really a bargain. As the realtor told me, “It’s the cheapest property in San Francisco, and it’s a great buy!” When we spoke over the phone, the realtor explained that the house is so trashed that no bank is willing to finance a mortgage. Below, you’ll see what I saw on my tour of the property, and the startling reality of $350,000 gets you in San Francisco these days.
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