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Thursday, June 20, 2024

Kitsilano ‘pile of rubble’ for sale for nearly $4 million

Every once a while, one spots a listing that epitomizes Vancouver’s sky high, outrageously expensive real estate market.

2573 West 3rd Avenue in Kitsilano is one such listing. The 1912-built former rooming house was damaged in a fire late last year.

Now the partially demolished structure, and more importantly, the lot it sits on are for sale for $3.99 million.

View the listing here.

The property was most recently sold (intact, before the fire) for $3 million in November 2016.

Clearly, the listing agent Hunt Tse now thinks it’s worth more.

The listing price of $3,990,000 is also above the most recent BC Assessment value of $3,713,000 — calculated before the blaze.

The home sits on a 50′ x 120′ lot, and can accommodate more than one dwelling.

With a 20 per cent downpayment of $800,000, mortgage payments would be approximately $19,000 per month at 5.34 per cent/five year fixed term.

2573 West 3rd avenue better days
The listing as seen in better days. Credit: Google Maps/screenshot

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Peter Meiszner
Peter Meiszner
Peter Meiszner is an experienced journalist and media relations professional, based in Vancouver. As founder of urbanYVR.com, he has been reporting on urban development across the Lower Mainland since 2016, and has also served as vice-chair of the Gastown Historic Area Planning Committee. In October 2022, he was elected to Vancouver city council and is no longer actively reporting for urbanYVR.

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