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Monday, September 26, 2022

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 Meisznerhttps://www.peterforvancouver.com/
📢 I am running for Vancouver City Council with A Better City (ABC) and Ken Sim! Visit peterforvancouver.com for more information.

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