This Couple Purchased an Entire San Francisco Street for Peanuts and Now the Residents Are Furious
An entire street in San Francisco where homes easily sell for upwards of $10 to 15 million was recently purchased for $90,000. And no, we didn’t forget any zeros.
The world’s greatest bargain stemmed from the homeowners association’s failure to pay a $14 tax bill year after year, reportedly because it was being mailed to the wrong place. As a result, the street was put up for auction and bought by Tina Lam and Michael Cheng in 2015. The residents on that street could now be forced to pay rent or parking fees to the new owners.
The homeowners are taking legal action and demanding that the Board of Supervisors rescind the sale. That has come as a disappointment to Lam and Cheng who were evidently expecting some casseroles or something.
"I thought they would reach out to us and invite us in as new neighbors," Cheng said. "This has certainly blown up a lot more than we expected."
Read the entire bizarre story at the San Francisco Chronicle.