SAN FRANCISCO - Parking spots apparently aren't immune from the recent surge in San Francisco real estate prices.
A spot in the city's trendy South Beach neighborhood sold last week for $82,000, the San Francisco Chronicle reported Thursday.
The 8- by 12-foot parking space is in an enclosed garage in a condominium building near the San Francisco Giants' ballpark. A Porsche SUV was parked in it Thursday. The Chronicle said the unidentified buyer did not respond to interview requests.
While it may seem like a lot of money, real estate agents said parking could be a good investment in densely packed San Francisco, where vehicle spaces go for a premium. They can add as much as $100,000 to the purchase price of a property or be rented out at rates of $400 to $450 a month - the going rate in South Beach.