Asian couple buys entire street originally built to keep out 'Orientals'

Ausiliatrice Cristiano
Agosto 11, 2017

Google Street View wasn't allowed to go inside.

"Ninety-nine percent of property owners in San Francisco know what they need to do, and they pay their taxes on time - and they keep their mailing address up to date", city spokeswoman Amanda Fried told Chronicle. The auction came about because of an annual $14 property tax that the Presidio Homeowners Association had not paid for three decades due to what an attorney said was a mailing error.

Presidio Terrace is a block-long exclusive neighborhood filled with mega-mansions, and residents there recently found out their private street had been bought back in 2015. They are investors after all, and they dropped $90,000 on Presidio Terrace - and they already suggested to the Chronicle earlier that they might want to charge rent for street parking.

Tina Lam and Michael Cheng consider themselves "lucky" in the purchase they were able to recently make: one of the most exclusive streets in San Francisco, surrounded by multimillion dollar homes. "I just wanted to buy a piece of San Francisco". The residents and homeowners association are now trying to fight the sale in court. He cites the fact that the bill was being sent to the wrong address for thirty years, and he suggests Tam and Cheng were being shady in staying quiet for well over a year after their purchase, in order to make the sale more hard to rescind.

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