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Vancouver condo price reflects a market decline Add to ...

2525 QUEBEC ST., UNIT 207, VANCOUVER

Asking price $649,900

Selling price $642,000

Previous selling price $272,420 (July 1997)

Taxes $2,515 (2012)

Days on market 11

Listing agent David J. Campbell, Re/Max All Points Realty Group

The Action: This two-level condo in the heart of trendy Main Street, sold slightly below the asking price, might have sold for more had it been listed earlier last year. The Vancouver condo market has softened, which means desirable properties such as this one are being priced to sell quickly. It took only 11 days for this 1,300-square-foot unit to sell.

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What they got: The two-bedroom, two-bathroom condo is unique because it is part of a 1909 church at the corner of 10th Avenue and Quebec, surrounded by other old churches that comprise one of the city’s oldest neighbourhoods. The 1994 conversion created quite a buzz in Vancouver at the time, with the developer required to do expensive seismic upgrades to make the heritage property livable.

The two-level unit has a lane view, but its windows are cathedral window height – a central feature that brings in vast amounts of light. Maintenance fees are $493.10 and the unit currently rents for $2,475 per month.

The Agent’s Take: The unit is starting to show its age, with outdated light fixtures, bathroom and kitchen. However, a renovation would make this condo a highly desirable, deluxe property because of the ceiling height and popular location. It is only a block in either direction from trendy shops and restaurants, as well as transit, including the B-line to the University of B.C.

 

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