How much is parking worth on Potrero Hill?

Asked by Anthony, San Francisco, CA Fri Jul 13, 2007

If there were two identical 2BR condos on Potrero Hill, one with a parking space and one without, how much more would the one with parking sell for? 2 parking spaces?

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Chris Cole, Agent, San Francisco, CA
Wed Sep 5, 2007
I think there are a few factors that has been left out of this conversation, how easy is parking in your block, how dense is the housing in that block and are there future plans for development that could change that.
With the new T Third line open there are more public transit commuters moving into the neighborhood.

All of those factors could change how important parking is to a buyer in that area.
1 vote
Veronica Gar…, Agent, San Francisco, CA
Fri Jul 13, 2007
Generally parking can add 30,000 to 50,0000 to a sales price, depending on the area and availability of street parking. Potrero Hill varies street to street. If you are on the edges of the hill I would say 30K, if your condo is in the heart (18th Street), I would value your the parking at 50K. Your realtor can run comparables in the area to give you a more accurate quote.
1 vote
Mark Choey, Agent, San Francisco, CA
Fri Nov 2, 2007
Good question

Most likely $50,000 - and I agree with previous posts including Veronica who say depending on the street and whether there is a lot of street parking or not.

So - if you have a 2BR with 1 car parking - let's just say it's $775,000.
If you have the same 2BR with NO parking - the same unit should probably sell for maybe $725,000 and if the same 2BR had 2 car parking, then probably $825,000.

That definitely seems right to me....
0 votes
Joy Liu, Agent, San Francisco, CA
Sat Sep 1, 2007
If given the choice and having the ability always opt for the place with parking - the more the marrier. Even if you don't own a car, consider renting out the space to someone else who would be willing to pay $250 to $350 a month for the convenience of it.
0 votes
Mario Pinedo,…, Agent, Cupertino, CA
Fri Jul 13, 2007
Priceless, when it's late at night and you are searching for that open parking space. $50,000 for a good, not shared, not tandem space is well worth it. Definitely a huge selling point when you go to sell your condo years later.
0 votes
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