San Francisco's housing crisis is so dire that one of the cheapest homes in the city is a 'fixer' that sold for $600,000. Take a look inside
- A 480-square-foot home in San Francisco was sold in December for $600,000, making it one of the cheapest homes listed in the city's overheated real estate market.
- The home at 66 Bishop St. is nothing glamorous. It was advertised as a "fixer," inviting developers and contractors to swoop in for an opportunity to renovate.
- Still, in a region whose housing market is bursting at the seams in part from Silicon Valley's ever-growing tech bubble, it sold quickly after just a couple of months on the market.
The pink 480-square-foot home at 66 Bishop St. in San Francisco is one of the smallest in the city. It's also one of the cheapest with its whopping $600,000 price tag, as reported by SF Gate.
The home sold in late December 2018 after two months on the market and a $50,000 price cut. It was advertised as a "fixer," meaning whoever bought it basically paid over half a million dollars for the listing's location and space — it sits on a 2,500-square-foot lot with plans to potentially expand to 3,500 square feet of living space.
However, in one of the most competitive real estate markets in the country, which has been stoked by Silicon Valley's ever-growing tech sphere, house hunters can't afford to be picky.
Take a look at what $600,000 bought its new owners.
San Francisco and the surrounding Silicon Valley region is swarming with big tech companies.
Source: Business Insider
Tech workers from around the world flock to the Bay Area for jobs in the industry.
Source: Business Insider
The influx of tech recruits has only exacerbated the city's housing crisis.
Source: Business Insider
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