San Francisco parking spot sells for $82,000

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by The Associated Press

WCNC.com

Posted on June 13, 2013 at 11:24 AM

SAN FRANCISCO (AP) -- It seems parking spots aren't immune from the recent surge in San Francisco real estate prices. 

The San Francisco Chronicle reported on Thursday (http://bit.ly/175w2RE ) that a spot in the city's trendy South Beach neighborhood sold last week for $82,000. 

The 8- by 12-foot parking space is in an enclosed garage in a condominium building. 

While it may seem like a lot of money, real estate agents say parking could be a good investment. It 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. 
 

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