Tuesday, May 18, 2021

A 50,000 SQUARE FOOT LOT FOR SALE IN SAN FRANCISCO FOR ONLY $75,000 ... BUT THERE IS A CATCH

by Bob Walsh

The lot is right next to Candlestick Point Recreation Area and is zoned commercial.  The trick, however, is that it is under water.  Even at low tide.  

It has one semi-nibble from a guy who is maybe going to anchor is two house boats there rather than pay extortionate slip fees in Marin County.  

Strangely there is a modest market for such things.  The same firm that is handling this piece of property sold a similar one some years back to a SF biotech firm.  

You could maybe build a pier there, if you were willing to jump thru the hoops to get about 17 different permits required.  

Just in case you have a spare $75,000.  

By the way, in San Francisco you have to pay a rainfall tax for rain falling on your undeveloped property.  Really.  Not a joke.  I wonder if you have to pay it on land that is actually under water?

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