San Francisco Home Listed Below Market Value with Tenant Occupancy Until 2053

A three-bedroom house in San Francisco's Russian Hill is listed for $488,000, significantly below its market value of $1.8 million, but the buyer can't move in until 2053 due to tenant protections. The current tenant pays $416.67 per month under a lease that grants strong long-term rent restrictions and occupancy rights. This situation is attributed to the tenant's 'protected tenant status' under San Francisco law, providing protection for elderly and disabled tenants who have resided in the property for over ten years. The property is sold 'as is,' making the new owner the tenant's landlord. This unique sale has garnered significant interest and reflects the challenges in the San Francisco real estate market where high property values and strong tenant laws intersect.