The San Francisco Board of Supervisors will return ownership of a street in upscale Presidio Terrace to the neighborhood’s homeowners association, two years after the street was sold at auction because of a lapsed tax bill.

Investors Tina Lam and Michael Cheng bought the street for $90,100 in 2015 at auction. The street was put up for auction after the tax bill on the property lapsed, an amount that added up to $14 annually and wasn’t paid for 30 years.

The neighborhood had previously lost…