Presidio Terrace in San Francisco is a private gated street, lined by
mansions. The block-long enclave -- the street itself, as well as the
sidewalks, parking spaces and common gardens -- has been purchased by
a pair of San Jose real estate investors who discovered that it had
been put up for auction online by the city's tax office because of
$994 in unpaid taxes, interest and fees. The pair bid on and bought
the street -- everything but the mansions -- for $90,100 and
reportedly is thinking of charging owners for parking. (Credit: Photo
by Jim Heaphy)

San Francisco homeowners want city to give back their street bought by San Jose investor

An investor scooped up one of the toniest private streets in San Francisco after its wealthy owners didn’t pay property taxes for years, a sale that the well-connected homeowners want city leaders to reverse Tuesday.

By taking up the issue, officials have sparked criticism that the city is not as fair and equitable as it claims, but a playground for the rich who don’t have to play by the same rules as everyone else. San Francisco has some of the most exorbitant property prices in the country and has become increasingly unaffordable for many people.

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