1540 EAST 4TH AVE., UNIT 206, VANCOUVER
ASKING PRICE $288,500
SELLING PRICE $279,000
PREVIOUS SELLING PRICE $210,000 (2012)
TAXES $1,029 (2013)
DAYS ON THE MARKET 44
LISTING AGENT David Campbell, Re/Max Realty
The Action: The resale condo market in Vancouver has gone soft, which means it’s a buyer’s market with deals to be had. Buyers are being choosy, looking for condos in either new buildings or older buildings that have had all the upgrades. In this case, real estate agent David Campbell sold a unit in a condo built in 1974 that had been extensively upgraded and renovated. Because the building is a hacky sack toss from Commercial Drive, it’s in a desirable location that will most likely hold its value.
What They Got: The previous owner had purchased the rundown, one-bedroom unit and fixed it up, spending a lot of time on details such as mouldings, radiant heated floors and an electrical upgrade. Although the building’s plumbing system can’t handle washers and dryers in each unit, the unit had enough top-of-the-line features, as well as a balcony, to make it sell in 44 days.
The Agent’s Take: “We decided $288,500 was a very attractive price, and it did bring in many people to look at the suite,” says listing agent David Campbell. “We received one offer on it, and we countered back at $279,000 and that was accepted by the buyer.”