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 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.
Copyright 2013 The Associated Press.