San Francisco home in ritzy neighborhood selling for a steal – but there's a catch

A home in an upscale San Francisco neighborhood with properties typically valued at millions of dollars is on the market for under $500,000 – but it may be a while before the new buyer can move in.

The seller is asking $488,000 for the three-bedroom home located in the city’s Russian Hill neighborhood, and an "as-is sale," according to the listing with Park North Real Estate.

The property, which spans a total of about 3,200 square feet, has received attention in recent days for both its low asking price and how long the tenant may get to stay in the home.