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.