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North Park "shed" offered at $1,050 a month

North Park "shed" offered at $1,050 a month.
Photo credit:
J.D. Property Management

A recent listing for a North Park granny flat has social media reacting with awe for what renters are getting for $1,050 a month. ABC 10 San Diego called it a "shed." 

The small building is located in one of San Diego's most up-and-coming neighborhoods; North Park. It's located behind a home on Oregon Street

"I was amazed it was going for that much money," local Joe Moreno told ABC 10 News. "Does it have plumbing? I mean, does it have facilities?"

The unit is equipped with everything you need and then some. It's got a wall air conditioner and a small kitchen space. 

J.D. Property Management is renting the unit and even though the price seems high, they expect to get it. 

Alan Nevin, director of research at the Xpera group agrees saying it's because of the age-old rule: Location, location, location. 

"Maybe it is high for what it is offered at, but the reality is that the square footage and the location is exactly what this market needs," said Nevin. 

Studio apartments are a growing trend in the North Park and Hillcrest areas. But even those go for a hefty fee depending on the part of the neighborhood.

The photo of the tiny apartment and its rent has elicited some critical responses from online critics. Some poking fun at the steep asking fee.

There is no parking allocation and potential leasees need to earn 2.5 times their rent and a passing credit score of at least 650.