America’s Cup sends rentals into the stratosphere

Fri, 12 Jul 2013 08:52:36 +0000

Would you pay $18K a month to rent this place, because it has a view of the Bay and thus the race action?

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The home, perched atop Clarendon Heights, is one of many being marketed as a temporary rental specifically suited for fans of America’s Cup, and is actually the least expensive example we’ll offer today. Per its write up through Trulia, this is a 3 bed, 2 bath, “available June 15th through August 15th.” For the weekly rental price of $5,000, up to 12 people could share the home, which includes “sweeping views of the Ocean, Golden Gate Bridge, North and East Bay” plus two-car garage, patio, and utility costs (as long as they don’t exceed $250 a month, which if 12 people actually stay there, is possible).

$18K a month is a bargain, going by this next example:

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A relatively unremarkable loft-style condo of 2 beds, 2 baths, this 2,300 square foot unit is advertised as follows: “Available July-Sept 2013. Sleeping 6 comfortably, look no further for a conveniently located place to stay for the upcoming America’s Cup races.” The views aren’t featured (we can’t tell if there is one) but the fact that it’s walkable to the Embarcadero is. For that, you’ll pay $25K a month (that includes utilities and cable, plus one car parking).

Moving still higher on the monthly rent, we land at this home somewhere on Francisco Street with a view of the action from its roof deck.

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With 6 beds and 4.5 baths and a Marina District address, this condo asks $30K a month. Advertising on Trulia promises: “the master suite features a private deck, and there is a rooftop deck with extensive views of the Golden Gate Bridge, Alcatraz… and full view of the Americas Cup Events this summer.”

Is America’s Cup fever really this hot?

Can homes close to, or with a view of, the fabled race really command prices like these? The comments await.

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert

Article source: http://blog.sfgate.com/ontheblock/2013/07/11/americas-cup-sends-rentals-into-the-stratosphere/

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America’s Cup sends rentals into the stratosphere