The VALUE of public transportation!
I'm located in the Bay Area, and we recently purchased a property very near BART, which is the rapid-transit in the area. This property is less than two blocks away from the BART station, which is not only going to add something like 100-150K to the bottom line of the property, but in addition, because we were so close to public transportation, we got to completely skip plan review (1-4 months) to add an extra unit at the back of the house!
Being near public transportation sure pays off. It's an amazing investment, especially in areas that haven't gentrified yet.
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That's a really good observation. I've been watching values rise as transactions cross my desk, and it's certainly the case that BART stops are at the centers of little clusters, over time. To the point that once in a while I will hear people use the BART station to name the area instead of the traditional neighborhood name.
...Technically, it's in San Leandro - not five blocks from it. San Leandro is a city, not just a BART stop, but the language use here has clearly shifted in a subtle, but not irrelevant, way.