Done Deal, 8400 NO. 1 ROAD, RICHMOND, B.C.
8400 NO. 1 ROAD, RICHMOND, B.C.
ASKING PRICE $628,000
SELLING PRICE $622,000
TAXES $2,205 (2013)
DAYS ON MARKET 16
LISTING AGENT Owen Bigland, Macdonald Realty
The Action: The buyers, a young family, had been living in a two-bedroom condo for the past five years, says listing agent Owen Bigland. "Their ultimate goal was to buy a detached house, however current prices for an older, smaller starter home in the area are in the high $700,000s, which was out of their budget." The duplex offered more space than a condo, and was less pricey than a detached house.
What They Got: This three bedroom, two bathroom half duplex is in the Richmond neighbourhood of Boyd Park. The 1,500-square-foot house has been recently renovated with new cabinets, stainless steel appliances, fixtures, flooring, windows and roof. The lot size is large, at 40-feet wide by 120-feet deep.
The Agent's Take: "When you're buying a fully renovated home sitting on a 4,800-square-foot lot, you really can't go wrong at this price," says Mr. Bigland. "It's in an area with new multimillion dollar homes being built. I could see these buyers one day partnering with their neighbour, who owns the other side of the duplex, and selling to a builder for a nice profit. The builder will sub-divide and build two new, detached homes on 40-feet-by-120-feet lots. It's just the way the neighbourhood is heading."
Kerry Gold