House for sale in San Francisco for $488K but there is a catch

SAN FRANCISCO — Looking for a home in one of the most expensive places to live in the country? You can for a decent price but there is a small catch.

The catch is that you can’t move in until 2053, according to the San Francisco Chronicle.

“Current tenant claims SF City tenant protection class status,” the listing says, according to the newspaper. “Tenant’s current lease appears to grant tenants strong long-term rent rate restrictions, unconventional methods of rental payment, and possible occupancy rights until 2053.”

“Thirty years. I don’t think I’ll be around for that,” said Ilia Smith, a neighbor, according to KFSN.

“The new owner would have to buy the house subject to a very long rental lease that is currently being offered to an individual,” Tim Smith, another neighbor, told the news outlet.

The house is listed as a single-family house. it will be sold as an “investment opportunity for just the right buyer” and will be sold as-is, according to the Chronicle.

It has three bedrooms and two bathrooms and is located in San Francisco’s Russian Hill neighborhood, according to Zillow, per USA Today. It is about 1,100 square feet, KFSN reported.

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