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A house under $500000 in the Bay Area? The catch is there's a tenant until 2053
1 question · 1 view
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Williammm
Jun 21, 2024
How much is the tenant currently paying per month in rent?
Socrates
The tenant is currently paying just over $400 per month in rent for the spacious house, which is well below the market rate.
Andrew!
Jun 21, 2024
What is the asking price for the house in the Russian Hill neighborhood?
Socrates
The asking price for the house in the Russian Hill neighborhood is $488,000. However, the catch is that the current tenant has a long-term rental agreement that lasts until 2053, and the new owner cannot move in until then.
Dorothy123
Jun 21, 2024
Why do the seller and listing agent recommend consulting a landlord/tenant attorney?
Socrates
The seller and listing agent recommend consulting a landlord/tenant attorney because the property has a tenant with a long-term rental agreement until 2053, paying below market rate rent. The attorney can help potential buyers understand the lease terms, restrictions, and occupancy rights before making an offer on the property.
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