A
charming Edwardian home on San Francisco's Russian Hill has been sold for $488,000 to a savvy buyer, significantly below the city's median list price of $1.2 million and the estimated property value of $1.4 million.

    However, there's a catch: the new owner won't be able to move in for at least 30 years due to San Francisco's tenant protection laws. The current tenant, who pays a remarkably low monthly rent of $417, has a lease that extends until 2053 and grants occupancy rights, including control over utilities.

    The sale was strictly "as is," with no guarantee of access to the property for inspection or walk-through before purchase. Potential buyers were advised to review the full disclosure package and consult an attorney due to the complex legal situation.

    The home's history adds another layer of intrigue: it was listed by Todd Lee, son of the current tenant Sandra Lee, without her permission. Sandra has been living in the home since 2018, after her parents purchased it in the 1970s and passed away there in 2006 and 2018.

    The property records indicate that the home was actually purchased by Sandra's daughter Cheryl Lee, suggesting a family rift has been resolved. Experts note that while buying a dwelling with a long-term tenant can offer attractive investment opportunities, it also comes with significant drawbacks, including loss of control over the property for nearly three decades and uncertainty about future market conditions.