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Vancouver real estate: market crackles with buyers paying more than $500,000 over listed price of detached homes

Decrepit house in Vancouver Westside sells for $2 5 million, over asking price

The listing by Sutton Group West Coast Realty had an asking price of $2.395 million, with the listing agent stating: “Investor and Builder Alert! Great Value and opportunity! House not livable.” In fact, the house is in such poor condition that prospective buyers could not even view it. The listing states there is “no access to interior home.” BC Assessment has provided the property with an assessed value of $2.014 million, with $1.98 million from the land and $33,700 from the structures. The house has a total floor area of 2,385 sq. ft., including two bedrooms. However, it is in such a dilapidated condition that the listing states it technically has zero bathrooms.

Vancouver real estate: unlivable home previously auctioned by city hall sells over asking price for $2 5 million

by Carlito Pablo on February 14th, 2021 at 10:22 AM 1 of 1 2 of 1 A derelict home with a bit of history with the City of Vancouver recently changed hands. A buyer purchased 3469 Arbutus Street for $2.5 million, which was over the property’s listing price of $2,395,000. The listing by Sutton Group-West Coast Realty describes the 2,385-square-foot residence as “not livable”. An online search produced a report to city council by Marina Marzin, collector of taxes with the City of Vancouver. Marzin’s report recalled that the city auctioned the property as part of its annual tax sale on November 13, 2019. “The owner of the Property (the “Owner”) inherited the Property in 1985, and it is mortgage free,” Marzin wrote.

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