SAN FRANCISCO (KRON) — If you’ve been looking for a little space to call your own in the city you might just be in luck–as long as you can swim.
The lowest-priced parcel on Zillow that sits within San Francisco city limits is only $8,000, and that seems like quite a bargain at first. However, upon closer inspection, you’ll notice that the lot at 681 Donner Ave. is completely underwater. Located near the Candlestick Point Recreation Area, the parcel has great waterfront–or rather, waterlogged–views of the San Francisco Bay.
KRON4 spoke with the agent for the property, Trent Zhu, to learn if he has seen much interest in water lots like this. Zhu says that he has seen interest in the property, “due to the low price,” but it doesn’t look like there’s too much competition on the market for parcels like this one. When asked if he has seen many sales of water lots like these over the past two years, Zhu replied, “Not many.” In fact the current owners of lot at 681 Donner Ave. didn’t buy the lot at all, they inherited the parcel, according to Zhu.
However the tides may be turning for the Candlestick Point Recreation Area, as a new development project focusing on housing and transportation in the area began in 2014 and is now in phase two. The Hunters Point Shipyard Phase 2 and Candlestick Point Development Project has committed to providing approximately 10,500 units of housing to the area, and 31.86%, or 3,345 of the units will be offered at below-market rates.
Zhu focuses his attention on the future of the area when considering the true value of this property, “The Candlestick Point Area is the least-developed waterfront in all of San Francisco. When the housing project is completed there will be a need for the waterfront. Imagine 100 years ago in Fisherman’s Wharf, there was nothing there right? But now it’s booming!”
And if you have a little more spare change lying around, you may want to check out the next, lowest-priced parcel in San Francisco. For only $90,000 you can be the proud owner of a single parking space within the 88 Townsend St. community. The posting on Zillow says that this space is currently being leased for $300 per month.