Tenants Receive $475,000 Buyout to Move Out of San Francisco Apartment



Even in the crazy world of San Francisco real estate, a $475,000 voluntary buyout offered to one couple to move out of their apartment has captured national attention. Max Darrow reports. (7-30-21)

30 comments

  1. That building is in a really good neighborhood. It had all people on long term rent control, so you have people paying $900 a month rent when the units would rent for $6,000 a month today. Those people are not ever going to leave, so what the owner did is sell it to someone who had big money to remodel the entire building probably with the intention of selling the units as condos. A condo in SF sells for around $1.5 million, with that view and newly remodeled. So they figure the rent control people will move out due to the construction noise and inconveniences construction causes. So they had one renter who would not get out and probably needed the unit to finish up remodeling, so they paid big money. In the long term, if they can get $1.5 million per unit, it's still a good deal for them.

  2. Poor people were in the line of fire with Fukushima nuclear holocaust fallout People breathed in hot particles of radioactive nuclear fallout and the nuclear accident continues. All that people talk about the importance of money. This is sad. 60 percent of our biodiversity is gone on the planet as people still obsess about money, materialism etc…Poor people that were told to leave.

  3. In all of my 34 1/2 years as a landlord, I have never bought out a tenant and never will. Obviously, it used to be fairly easy to evict when necessary. These days with the moratorium in place and bad tenants taking advantage, we have been fortunate since I very diligently vet all applicants and only rent to qualified tenants who have charactor to pay their rent.

  4. It’s in Pac Heights. The houses out there cost 2 million for a condo and up to $50 million for homes. If they pay $475k to get them to leave and sell the unit as a condo they will make that back.

  5. That’s because these people are paying low rent from rent control yet are making high 6 figure salaires. It’s completely unfair to lower I come people. I see a bunch of hate for the landlords but none for these affluent folks occupying a rent controlled apt

  6. Imagine 15 years ago rent in that building was still very much unaffordable. With needed renovation that building was from outside was beautiful.

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