San Francisco parking spot sells for $82,000

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(AP)

It seems parking spots aren’t immune from the recent surge in San Francisco real estate prices.

The San Francisco Chronicle reported on Thursday (http://bit.ly/175w2RE ) that a spot in the city’s trendy South Beach neighborhood sold last week for $82,000.

The 8- by 12-foot parking space is in an enclosed garage in a condominium building.

While it may seem like a lot of money, real estate agents say parking could be a good investment. It can add as much as $100,000 to the purchase price of a property, or be rented out at rates of $400 to $450 a month ?the going rate in South Beach.

(Copyright 2013 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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