Austin KlarVanguard Properties · Lawyer Turned Real Estate Agent

San Francisco Driveway for Sale for $1,000,000

Name: San Francisco Driveway for Sale for $1,000,000
Uploaded: 2023-06-29T01:00:09+00:00
Duration: 52 s
Channel: Austin Klar
Description: In this brief YouTube commentary, realtor Austin Klar highlights an unusual MLS listing in San Francisco's West Clay Park neighborhood. He explains that…

29 Jun 2023 · 1 min

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In this brief YouTube commentary, realtor Austin Klar highlights an unusual MLS listing in San Francisco's West Clay Park neighborhood. He explains that a stretch of homes between 22nd and 24th streets accesses their properties via a private driveway, but the homeowners only own easements or rights-of-way, not the driveway itself. The driveway owner attempted to sell the driveway for $1 million, a price Klar deems unrealistic because the land cannot be built on or monetized. City records show the driveway last sold for $10,000, underscoring the disparity. Klar respects the owner's profit motive but concludes the $1 million asking price is untenable. He ends with a call to follow him for more Bay Area real‑estate insights.

Chapters

Once in a while as a realtor, you come across the weirdest listings on the MLS, and this one is definitely up there. This one is in the West Clay Park neighborhood of San Francisco. It's one of San Francisco's 8 master-planned communities, which are designed to look like residence parks in an otherwise urban environment. And as you can see, a stretch of homes on West Clay Park between 22nd and 24th are accessed through a private driveway. But what's crazy is none of them actually own the driveway. They actually own an easement or a right-of-way to access someone else's property to get to their own homes. And just recently, the owner of that driveway was trying to sell it for $1 million. Nobody realistically is ever going to be able to build on that or monetize that, so shockingly, it didn't sell. According to city records, the property last sold for $10,000. So respect to the owner for trying to make a healthy profit, but no chance in hell that a property that you can't build on and that isn't going to be able to be monetized is worth $1 million. Follow me for more Bay Area real estate.