Source: The Business Journal
Written by Associated Press
(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.
URL to original article: http://www.thebusinessjournal.com/news/state/6501-san-francisco-parking-spot-sells-for-82k
For further information on Fresno Real Estate check: http://www.londonproperties.com
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