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$82,000 -- Worth it for a parking spot? [Talk back]

June 14, 2013|By Times staff writers
  • A Porsche SUV is parked in a space in a parking lot near AT&T Park in San Francisco. A spot in the city's trendy South Beach neighborhood sold last week for $82,000.
A Porsche SUV is parked in a space in a parking lot near AT&T Park in San… (Ben Margot / Associated…)

Parking in Los Angeles can be rough, but is saving money on tickets or hours hunting for an empty curb worth $82,000?

It is in San Francisco, apparently. A spot near AT&T Park in the trendy South Beach neighborhood sold for $82,000 after just two weeks on the market, the San Francisco Chronicle reported.

The 8- by 12-foot parking spot, in an enclosed garage in a condo building, is creating buzz in a town where real estate prices are surging.

The spot was sold by Sean Sullivan with Climb Real Estate, who, during the last San Francisco real estate boom, sold a spot in the same building for $95,000.

Though it may seem like a lot, the space could be a good investment, Sullivan said, especially in a neighborhood where sliding-scale parking meters have gone into effect during crowded events. It can be rented out at rates of $400 to $450 per month, the going rate in South Beach, and can add as much as $100,000 to the purchase price of a property.

How much would you be willing to pay for parking in a packed neighborhood on the rise? Let us know where you stand in the comments below or by tweeting @LANow.


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