- A 480-square-foot home in San Francisco was sold in December for $600,000, making it one of the cheapest homes listed in the city's overheated real-estate market.
- The home at 66 Bishop St. is nothing glamorous. It was advertised as a "fixer," inviting developers and contractors to swoop in to renovate.
- Still, in a region whose housing market is bursting at the seams in part because of Silicon Valley's ever-growing tech bubble, it sold quickly, after just a couple of months on the market.
The 480-square-foot pink home at 66 Bishop St. in San Francisco is one of the smallest in the city. It's also, with its whopping $600,000 price tag, one of the cheapest, SFGate reported.
The home sold in late December after two months on the market and a $50,000 price cut. It was advertised as a "fixer," meaning whoever bought it basically paid over half a million dollars for the listing's location and space — it's on a 2,500-square-foot lot and could expand to 3,500 square feet of living space.
But in one of the most competitive real-estate markets in the country, stoked by Silicon Valley's ever-growing tech sphere, house hunters can't afford to be picky.
Take a look at what $600,000 bought the house's new owners.
San Francisco and the surrounding Silicon Valley region is swarming with big tech companies.
Tech workers from around the world flock to the Bay Area for jobs in the industry.
The influx of tech recruits has only exacerbated the city's housing crisis.
See the rest of the story at Business Insider