• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

A family ‘betrayal’

The current tenants of the three-bedroom home are Sandra Lee, 83, and her 66-year-old daughter, Cheryl Lee. The current homeowner and seller is Sandra’s son, Todd Lee.

Sandra’s parents originally purchased the property in the 1970s for $52,000 and lived there until they died in 2006 and 2018. She claims Todd and her brother, Cedric Goo, have taken advantage of her and her daughter and listed the home against her wishes.

“We had a large family,” Sandra told The San Francisco Standard. “Now we’re destroyed.”

Sandra says her stepfather (the original homeowner) wrote her a lease in secret before he passed — granting her long-term rent rate restrictions until 2053.

“If it wasn’t for the lease that [my son] didn’t know about that was made in 2018, I don’t know where we’d be,” she said. “It’s unfathomable, the deception, the betrayal — this is my son doing this to me.”

The Standard notes Todd and Cedric did not respond to multiple requests for comment.

Don't miss

Is it worth the wait?

Steven MacDonald, an attorney that specializes in landlord tenant law, told ABC7 the home could be a great deal for a buyer that’s willing to wait.

"It's for a very, very unique buyer that's willing to get a big discount — maybe two-thirds,” MacDonald said. "Maybe pay $1 million for a $3 million house and wait 20 to 30 years before you can move in."

Of course, there are less intensive options for investors who don’t want the hassles of being a landlord — but still want to reap the benefits of growing real estate value.

You can put money in real estate investment trusts (REITs), most of which are publicly traded, or you could consider buying shares of properties on online real estate crowdfunding platforms.

What to read next

Serah Louis is a reporter with Moneywise.com. She enjoys tackling topical personal finance issues for young people and women and covering the latest in financial news.

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.