San Francisco Home Selling for a Steal in Exclusive Neighborhood

San Francisco Home Selling for a Steal in Exclusive Neighborhood - Here's the Catch

Рет қаралды 5,301

Күн бұрын

San Francisco’s real estate market has a curious new listing in Russian Hill: a 1,100 square-foot home priced at $488,000, significantly below market value. This bargain comes with significant catches. The home, which cannot be expanded upwards due to a recorded easement, is tenant-occupied under a 30-year lease at $417 per month. The tenant’s occupancy rights extend until 2053, making immediate possession impossible. Despite these conditions, the property drew a crowd and quickly went pending. Experts suggest this scenario is a unique investment opportunity for those willing to wait or negotiate with the tenant. Critics point out that the conditions highlight the complexities and sometimes absurdities of San Francisco's housing market, where high property values and stringent tenant protections create challenging situations for both buyers and sellers.
#SanFranciscoRealEstate #HousingMarket #InvestmentOpportunity
𝗚𝗢 𝗣𝗥𝗘𝗠𝗜𝗨𝗠 𝗪𝗜𝗧𝗛 𝗥𝗘𝗔𝗦𝗢𝗡𝗔𝗕𝗟𝗘+ 𝗙𝗢𝗥 𝗨𝗡𝗖𝗘𝗡𝗦𝗢𝗥𝗘𝗗 𝗔𝗖𝗖𝗘𝗦𝗦 🌟
ReasonableTV.com/
𝗧𝗜𝗠𝗘𝗦𝗧𝗔𝗠𝗣𝗦
00:00 - Haunted property issues
02:00 - Tenant lease duration
04:00 - Property specifics described
06:00 - Tenant's low rent
08:00 - Questionable tenant payments
10:00 - Owner passed away
12:00 - Possible tenant buyout
14:00 - Disclosure practices discussed
16:00 - Property sale pending
🛍️ 𝗠𝗘𝗥𝗖𝗛 - Store.ReasonableTV.com/
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Пікірлер: 96

@ReasonableNews 14 күн бұрын

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@billrehm3590 14 күн бұрын

The rent won't pay property taxes.

@creepycrespi8180 14 күн бұрын

not to mention 20 years of wear and tear.

@shawnkelly695 13 күн бұрын

Lol sounds like a joke. No way this is real

@johnluebbe1141 13 күн бұрын

Not worth the trouble. Taxes alone are $16,928 a year.

@oscarrlee18 6 күн бұрын

So little?

@MarkRVillano 13 күн бұрын

I think that what may have happened is this: The former (deceased) owner of the building may have put ironclad restrictions and stipulations regarding the sale and possession of this property into his will, and the estate now has to deal with them.

@kinjunranger140 14 күн бұрын

Taxes are probably twice the monthly rent. The current owners rented it to their kid.

@SheriffofYouTube 13 күн бұрын

taxes usually are 1% annually of property value $10,000 for every million ; google says $0.77% of property values

@kinjunranger140 13 күн бұрын

@@SheriffofKZfaq Not in my state.

@TheyRiseBand 13 күн бұрын

What a ridiculous country the USA has become.

@shawnkelly695 13 күн бұрын

Ca is not usa. Its 1 state

@jakeforrest 13 күн бұрын

@@shawnkelly695But a big state.

@andredaedone5 13 күн бұрын

Tell me about it.

@jamescalifornia2964 12 күн бұрын

Sad, but true ... 👉🙄

@princessmarlena1359 11 күн бұрын

Used to be a pretty awesome place, once. Maybe someday it will be again. To be fair, states such as California and New York don’t speak on all our behalf, but more often than not the madness that happens in those places spreads like a sickness throughout the land.

@rootdoc1997 13 күн бұрын

Wonder how many bodies are buried inside there? Lol

@ChadQuick270W 14 күн бұрын

Good god!! Here in southern Indiana you can buy a mansion (5 BR, 4 Bath, 3 car garage for $350,000 easily. Mind boggling.

@kinjunranger140 14 күн бұрын

But we don't have the needles, homeless, and human feces here in IN. Those are selling points of SF.

@Justadonkey 13 күн бұрын

@kinjunranger140 Lol sorry Im deleting my previous comment I misread Indiana as India, All of those problems are definitely relevant to India too

@Dodgeowner 13 күн бұрын

Shhhhhhh....now all those folks will move to Indiana and their voting practices will ruin that state also. I have family in Indy. I gotta think of them.

@shawnkelly695 13 күн бұрын

Plus indiana is a much better state.

@shawnkelly695 13 күн бұрын

@@kinjunranger140well just wait. Californication is spreading east. They will ruin indiana soon enough. They ruined co and into texas

@princessmarlena1359 13 күн бұрын

I predict the tenant “accidentally” running afoul of a bus, trolley, or cable car.

@jamescalifornia2964 12 күн бұрын

That is a dangerous " lease" ... 😳

@kalin6149 14 күн бұрын

That kind of rental income doeant cover taxes over the next 20-30 years, or for any maintenance fees that pop up.

@JuicerNation 14 күн бұрын

renter will definitely take $200k cash to move out. thats a near 1mil profit just from buying them out.

@user-nr7jm1so5j 14 күн бұрын

It is only a catch if you move it out of California. Call Nickel Brothers Movers ... and drop it in the Orcas Island, WA. The only sane option. 😂

@brigandboy1425 14 күн бұрын

That's insane. They should be paying the potential buyer for that kind of deal, not the other way around. The only way this thing gets sold is if someone doesn't know the caveat and signs papers without listening or reading anything.

@stinkleaf 13 күн бұрын

No one who has that kind of money would see this listing as anything but a joke.

@flingmonkey5494 13 күн бұрын

Consider Proposition 13 on this property, property taxes would be just over 1% of the cost of the home. That's $4880+, or $406+/month. Essentially, the rent will cover the property taxes and no much more. It would not cover both taxes and insurance.

@wealthintruth6227 11 күн бұрын

Prop 17 would supersede 13 when the aged seller passes. Taxes will skyrocket to current market values.

@patriciaannfoy5476 13 күн бұрын

The tenant is the sister to the 2 brothers that own the home their dad who died. Unless this was misinformation on line the sister put the information on line

@zeorhymer6 12 күн бұрын

Been known for decades. Do not be a landlord in SF or any other city with rent control.

@oscarrlee18 6 күн бұрын

Listen you get a job nice and safe at walmart

@mastercraftsman4213 13 күн бұрын

Kinda like hiring a hit on the renter...isnt it?

@stewart8127 10 күн бұрын

Someone probably will.

@eriktamai2293 14 күн бұрын

Pretty sure it’s like this, in California prop value is reassessed at MARKET value at death of owner ,prop got reassessed at market value to heir, 1.5 percent at 2 mill for property tax makes the new owner swim in debt if 450 rental charge can’t change, but if they sell it at 500k property tax is lowered and he can still live there till end of life and owner not swimming in debt from prop tax and low rent. Weird loophole to bypass prop tax. I wonder if they selling to a friend.

@smalljen2040 14 күн бұрын

I predict an earthquake before the 29 years pass.

@oscarrlee18 6 күн бұрын

You can only wish and wonder and bite your painted finger nails

@suzzane.notsusan.1078 13 күн бұрын

Why would you say its a tear down. That a home that still retains original features that worth preserving add a some modern functions. Im glad that it cant add up so it wont get ruined making ultra modern n tearing features n timbers that cant be found now a days

@OmahaTonyG 13 күн бұрын

This story is insane.

@ernestcheng36 13 күн бұрын

Already has a pending offer. Case closed

@jamescalifornia2964 12 күн бұрын

The buyer is a funeral director ... 😳

@user-bi8ml9gn8k 13 күн бұрын

I wouldn't buy diddle in San Francisco. You pay big money for a postage stamp size hut. It is and always has been a freak show.

@drwhoeric 12 күн бұрын

I suspect the house is priced for the Tenant to buy out the property. All part of the buyer / seller master plan to gift the house.

@debbicox2776 14 күн бұрын

What if you got a better job offer out of state? That's why some people move.

@oscarrlee18 6 күн бұрын

If you can’t get a high paying job in Cali you are a failure

@susannedoe9320 13 күн бұрын

How in the works can people afford houses there?? For $500k where I live you get s as beautiful 1800 sq home sitting on the beach in beautiful Gulf Shores. Way less crime and much lower taxes.

@oscarrlee18 6 күн бұрын

There’s no insurance where you are due to hurricanes😂

@laryjohnson5736 13 күн бұрын

Thank you greasy gavan for supporting brandon's build back better save democracy banana republic so strongly.

@anderander5662 13 күн бұрын

Taxes and upkeep likely 3X possible rent

@davidmcguerty8405 2 күн бұрын

You can't go on prem. So if the tenant doesn't treat the home well, you'll be paying for all kinds of repairs to keep it livable for the next 25 years or tenant can take you to court. And the tenant may be able to sublet and make all the money. As San Fran turns into a financial sink hole, it may be near worthless in 25 years.

@chalooter 14 күн бұрын

I would make sure the lease is not assignable. I wonder if you could sue to remove that easement, or make them pay for that "view". What are the RE taxes? I'm sure they are sky high, probably 20k or more. That's why they didn't set up a trust for the tenant. He wouldn't be able to pay the nut. This way the owner is stuck with that bill.

@SheriffofYouTube 13 күн бұрын

the tenant is the grand son and they dont want to pay the transfer taxes on the immovable. so they waiting for a cash offer

@Absaalookemensch 13 күн бұрын

The buyer will be upside down on that home for 30 years. The buyer will have to pay all maintenance, property tax on a home that may soon be uninsurable.

@provident8732 13 күн бұрын

Why don’t someone go buy a home rent it to me dam near free. You can have it back when I die. Sounds like a great deal to me,

@eat_the_octopus 8 күн бұрын

I wonder if a savvy lawyer could possibly get the tenant out under some repair and or upgrade or maintenance work loopholes

@fernandobanos7255 Күн бұрын

A huge opportunity for Tony Soprano

@bobpat56 13 күн бұрын

Curious whether lease is transferable or sub-leasable. If not, how old is the tenant?

@nosretep1960 14 күн бұрын

Shaun, opportunity for consulting 😅

@gabrielsyt 13 күн бұрын

Seems like the person wants to stay living there. If it was a million that would make them leave then they could have listed it for 1.5M.

@eat_the_octopus 8 күн бұрын

It a legit nest egg for someone. You retire and the house finally comes available, you sell it because Lord knows who the f would live in that shit hole city. Especially for your retirement years

@terryllee7706 13 күн бұрын

Who's paying property taxes ?

@thinkingimpaired5663 14 күн бұрын

California the Molden State...oops Golden State. I would love to live there. Worth the investment, however I imagine someone would bid up much higher.

@shawnkelly695 13 күн бұрын

Who gonna buy that house. Insanity

@mstickyes2683 11 күн бұрын

My neighbors been trying to sell his house in San Francisco for over 3 years no ones buying san Fran is dead

@poodlescone9700 13 күн бұрын

School district still sucks. Not worth it.

@SheriL1 13 күн бұрын

Hmmm.. Only in California.

@andrewflores6137 13 күн бұрын

You couldn’t right off the loss of money you would get?

@johnponm 13 күн бұрын

Tenant will give up lease for $100K !!!!!!!!

@SheriffofYouTube 13 күн бұрын

that house is worthless. apartment size

@zibomacadangdang108 10 күн бұрын

Kinda like the reverse mortgage thing? You can have my house after I'm dead but you pay for property tax and repairs. And while you're at it gimme half a million cash. Is it worth it for the buyer? Yes if it's not about the money and they can spare it. Do we know what it will be worth in 10 or 20 years? The jobbers and techies are bailing yes. But old families still live here and got money. They don't need to leave for jobs or affordable housing. They can wait out incompetent politicians and earthquakes. That's why its still expensive.

@angiebervinkle1575 13 күн бұрын

Id buy it and resale it only thing u can do

@angiebervinkle1575 13 күн бұрын

When i bought my house it to live in cuz its far cheaper than renting

@williamcarter7655 13 күн бұрын

So in the end this is a gimmick…..

@jackiemansfield8325 10 күн бұрын

Bet some moochers are taking advantage of parents with almost free rent for life. ~

@YuTv1408 14 күн бұрын

Sing me up of its close to Embercadero

@garblegarble8065 13 күн бұрын

What an ugly junk box that house is.

@americanme3239 12 күн бұрын

😂hey.. I'll sell my 2006 Denali envoy for 275.00.. as is . Buyer can take it over in 2030. I'll keep it going as long as possible. Cash.. Sign here .😅😂😅😂 And dont open any free offers on yt.. or face book. Because they will jam up your computer with garbage offers that want more personal information. Ol jo flopped.. so who is PRESIDENT? Happy 4th 😅😂🎉🎉

@americanme3239 12 күн бұрын