You Snooze, You Lose (and Someone Buys Your Street)

Bay Area couple buys private San Francisco street at a city auction — unbeknownst to residents.


Photo Credit: San Francisco Chronicle
Thanks to a little-noticed auction sale — and a comedically overlooked unpaid tax bill — a Bay Area couple are now the proud owners of one of the most exclusive streets in San Francisco. And now the street's super-rich residents might actually have to pay to park on their own private street.

Tina Lam and Michael Cheng won Presidio Terrace for just over $90,000 at a city-run auction. The block-long oval private street, home to 35 multi-million-dollar mansions, was up for sale after the Presidio Homeowners Association failed to pay a $14-a-year property tax for thirty years. The homeowners apparently had no idea, and failed to pay because the tax bills had been going to an accountant's outdated address.

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Author: Marcus M. Wise

I love to spend my time online and on some outdoor activities that I like. I spend my weekends by going out with my friends and family. I also love to travel around the world if there a window for monetary budget. I have been into some exciting places and I am surprised to new things I saw.

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