Russian Hill cheap home sale: Family feud at center of deal
What is the asking price for the Edwardian-style home in San Francisco?
The asking price for the Edwardian-style home in San Francisco is $488,000. However, it is important to note that the current tenant, Sandra Lee, has a lease with long-term rent rate restrictions at $416.67 until 2053. The home is worth $1.8 million, but buyers should be aware that they cannot enter the property until the lease ends.
What relationship does the homeowner have with the current tenants?
The homeowner, Todd Lee, is the son of the current tenant, Sandra Lee, and nephew of another tenant, Cheryl Lee. Sandra and Cheryl are mother and daughter. The unique situation involves a family feud and property rights, as the house was originally purchased by Sandra's parents in the 1970s.
When can the new owner of the San Francisco home take possession?
The new owner of the San Francisco home can take possession in 2053, as the current tenant, Sandra Lee, has a lease with long-term rent rate restrictions until that year. The home was listed for sale with the unique condition that the buyer cannot enter it until the lease expires.