The Bay Area is never short of weird, often astounding, real estate stories, so San Francisco land sales that literally under the bay should come as no surprise.

What’s surprising is that an underwater property is listed for only $ 8,500.

The underwater residential lot in front of the Candlestick Point Recreation Area is 5,001 square feet at 610 Egbert Avenue.

The property is listed by real estate agent Trent Zhu, who auctioned 40 of these underwater lots from the city of San Francisco for $ 5,000 about six years ago. Zhu said the first time he heard about the auction that it was just too cheap to oppose.

Now, he said, the real estate market is so good that he’s trying to get his money back. He says he sees potential in the site, even though he knows there are no guarantees. “San Francisco has a rich history of waterfront development. Much of the Marina District began as a waterfront property prior to 1915, ”the listing says. “… Seller is not sure whether this Wadden Sea can be expanded into a marina, houseboat park, pier or anything else. Buyer is encouraged to check with state, county, and city authorities for the highest and best use of the property. “

An underwater lot is for sale in San Francisco for $ 8,500.

Trent Zhu

Zhu would prefer to sell his 40 lots to a developer at once, but he said he is more and more open to selling them in bulk. He said with all of the residential and commercial development coming to the Hunter’s Point area in the next 10 years, space could be important to the neighborhood.

Just this week, Zhu said he had spoken to a property developer who wanted to check with the city to better understand development opportunities.

The total list price for the 40 lots is $ 375,000, which is a relative bargain considering the average single-family home price in San Francisco is $ 1.5 million.

Zhu said he made many individual offers for the packages, so he doesn’t worry about selling them one by one when it comes to that. “It’s a plan B,” said Zhu.

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In a city where property prices often seem irrational, listing certainly offers a cheap alternative for bargain hunters.

To see the vacant lot, you need to overcome some natural barriers.

The site is clearly off the beaten path but gives you the opportunity to enjoy recreational fishing.

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And for the weather? Sunny and mild with some fantastic views.

The only caveat is that the 1.1 acre property is submerged and located three blocks east of Candlestick Park.

The property was bought by Trent Zhu a few years ago.

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We asked the owner what he was up to with it when he originally bought the land.

As a daytime real estate agent, Zhu recalls that he had no plans for the property at the time; it was good business.

“I didn’t see the property myself,” says Zhu.

He bought his land at auction in San Francisco County for less than $ 5,000 about six years ago. The asking price is $ 75,000 today.

So far, Zhu has no buyers, but people are certainly curious.

Resident Mary Gutekanst had no answer when asked if she would consider buying the property other than a roaring laugh.

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“Maybe build it above sea level and stand on stilts or something,” says Mark Corsetti, who knows the area well.

Zhu hopes another pier could be added to the San Francisco waterfront.

“Like a pier, a stadium,” suggested the owner.

A stadium, he said? That can be a good investment as a certain baseball team is now threatened with building a ballpark outside of Oakland.

Here’s another revelation; Zhu owns several other underwater properties.

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“It’s just one thing at a time, if someone wants to buy more, I can sell more, that’s just one thing,” the real estate agent clarified.

At the moment, Zhu says he’s just testing the water.

“It owns a piece of San Francisco and is buying in the future,” he added.

Nothing beats a good sales pitch.

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