SAN DIEGO (KGTV/CNN) - Is a great location worth paying more than $1,000 per month if that means you’re living in a backyard shed?
An ad was placed for the 200-square-foot backyard “studio apartment” for $1050 per month, and one neighbor couldn’t believe the price.
"I was amazed that it was going for that much money," Joe Moreno said.
A worker at J.D. Property Management, which is renting out the unit, expects to get asking price.
"You know maybe it is high for what it is offering, that but the reality is that the square footage and the location is exactly what this market needs," said Alan Nevin, a housing industry analyst.
After all, the previous tenant rented out the space for two years at $1,100 per month, and the current asking price of $1050 per month is several hundred dollars less than a typical studio in the neighborhood.
And in case you wondered, yes, the building has plumbing, a wall air conditioner, new laminate flooring and a kitchenette.
It doesn't, however, include parking.
Despite the appearance of a bargain, people on Reddit are calling it ridiculous. One person joked they should rent their walk-out closet if the backyard unit can go for that much.
"No that's too pricey. That's too pricey," Moreno said.
Moreno said he is renting a two-bedroom bungalow nearby for about $3,000 per month: A price he considers fair.
In order to qualify to rent the studio, you need to have a minimum income of $2625 per month and a credit score of at least 650.