A beautiful 3-bedroom home in a sought-after San Francisco neighborhood has hit the market for $488,000, less than half of what it’s worth. However, before prospective buyers reach for their wallet, there’s a catch. The new owner won’t actually be able to live in the house until 2053, and they won’t be earning much rental income in the meantime. That’s because the home is currently occupied by a protected tenant who pays just $416.67 in rent a month and has occupancy rights until 2053. Despite the unusual arrangement, there were lines around the block to view the property, and an offer has already been submitted. The median sale price for a home in the Russian Hill neighborhood is $1.5 million, which is why a listing at $488,000 was only on the market for a few days before someone put in an offer. The home would be a good choice for parents who want to secure an investment for their young children and are okay with losing out on rental income now. The current tenant will remain in the house until he dies, voluntarily vacates, or until the lease ends in 2053. The tenant is the one who is the winner in this deal.
