A 330-SF former earthquake shack in San Fran sells for $765,000

by MPA31 Oct 2014
It’s no surprise that the level of home price inequality in the U.S. is high. In Detroit, you can trade a 2,400-square-foot home for a new iPhone, but in San Francisco you’d be lucky to find a home under $1 million. So, maybe the fact that a homebuyer was able to find a 330-square-foot cottage in San Fran’s popular neighborhood of Telegraph Hill for $765,000 was actually a good deal?

The historical cottage, at 1448 Kearny St., is part of a group of tiny former earthquake cottages located all across the city, according to SFGate.com.  After the big 1906 San Francisco earthquake and fires, anyone with land could take these Army-built shacks.

According to Socket Site, the property was listed last month after being renovated by its artist-owner, with whitewashed floors, raised ceilings and a new sleeping loft.

The average price of a home in September was $979,700, making it the third least affordable housing market behind Hong Kong and Sydney, according to the Demographia International Housing Affordability Survey.



Is TILA-RESPA a good or bad thing long term?