S.F. Parking Spot Sells for $82K

    A Porsche SUV is parked in space #142 Thursday, June 13, 2013, in a parking lot near AT& T Park in San Francisco.  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. (AP Photo/Ben Margot)

    Ben Margot

    Single-room space with no views? It doesn’t matter how bad a deal it is, it’s bound to fetch a high price in real-estate-cramped San Francisco. The excesses just keep mounting: an 8-by-12-foot parking space in an enclosed garage near the stadium where the baseball Giants play sold this week for $82,000, after just two weeks on the market. The real-estate agent said he sold a spot in the same building for $95,000 during the last housing boom. San Francisco’s real-estate prices have skyrocketed 22 percent from last year, according to the last measurement in March.

    Read it at The Associated Press