$1.4 million San Francisco house snapped up for shockingly low price but it comes with a huge headache

A classic Edwardian home in San Francisco‘s Russian Hill with timeless character has been snapped up for $488,000 by a savvy homebuyer.The unusually low price is far less than half of the city’s $1.2 million median list price and an even smaller portion of the property’s estimated $1.4 million value.Though the home might seem like a dream bargain at first glance, it comes with a rather astonishing catch: The new owner may not move into the property for the next 30 years.According to the listing, the property is currently tenant-occupied under San Francisco’s tenant protection laws, and the current lucky occupant, who pays an incredibly low monthly rent of $417, signed a lease that locked in strict rent controls and grants occupancy rights extending until 2053.These laws are designed to protect long-term renters, securing low costs over a years long period and enabling the current tenant to take full control over payments of all utilities, including water, garbage, and energy bills.There’s no wiggle room either.

The sale was strictly as is, according to the listing, which also noted that agents were unable to guarantee access to the property for an inspection or even a walk-through before purchase.The seller also had the right to reject or counter any offers.Perhaps understandably, given the legal complexities that come with the home, any potential buyers were urged to review the full disclosure package and consult with an attorney before committing to purchasing the house.And that’s not the only “catch” to have come with the property.Per the listing, the former male owner of the house died inside it.He was over the age of 100 and died of natural causes.When the home was first listed, it sparked a frenzy of excitement and intrigue.One neighbor at the time, Ilia Smith, told ABC News that there was a line of people wrapped around the block waiting for a chance to peek inside the unique home.“My husband came in and said, ‘You’ve got t...