Nobody wants to buy San Francisco Bay's only private island - which just got a huge price cut

According to reports, the only private island in San Francisco Bay just got a huge price cut.

Red Rock Island - six acres of rocky, uninhabited land sitting between San Quentin and Point Richmond, California - is visible from the Richmond-San Rafael Bridge, which connects the two.

On the market since 2012, the island has gone from $22 million to $10 million to the rock-bottom price of $5 million - a definite steal by San Francisco real estate standards.

According to the listing, the completely raw and undeveloped island has "myriad possibilities for tourism development, preservation as a natural sanctuary, mineral extraction site, or just as your highly unique personal retreat."

Though mostly rock and dirt, Red Rock Island is not without history. Its previous monikers include "Golden Rock" and "Treasure Island," according to the San Francisco Chronicle, and it's name is often associated with legends of pirates and buried treasure (though no treasure has ever been found there).

Its current owners, a retired local real estate investor and a former San Francisco lawyer, wanted to turn the island into a 20-story hotel, casino, and yacht harbor in the 1960s, according to the Chronicle. Their plans were dashed by a public outcry, however. Since then, many offers have come and gone, but the island has remained.