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159 WEST 23RD AVE., CAMBIE, VANCOUVER

ASKING PRICE $1,398,000

SELLING PRICE $1,330,000

PREVIOUS SELLING PRICE $507,000 (2003)

TAXES $5,860 (2012)

DAYS ON THE MARKET Three

LISTING AGENTS Andrew and Jill Hasman, Re/Max Real Estate Services

The Action: Just north of Queen Elizabeth Park and King Edward station, this ranch bungalow had an open house that brought out about 40 shoppers, which is a third of the turnout this type of property would have received last year. Yet, this one still sold as quickly, as the listing agents anticipated, for $1.33-million.

What They Got: This 33-by-148-foot lot allows for a house up to 3,430-square-feet and a 612-foot laneway home, but it currently accommodates this 2,000-square-foot residence with a fenced backyard and single garage.

In 2004, the 74-year-old structure was renovated, so it has two bedrooms and an updated four-piece bathroom, as well as a kitchen, living and dining rooms and a partially finished basement.

The Agent's Take: "It's a nice west-side location and in a very safe area," says agent Andrew Hasman. "A standard city lot is 33-by-122 feet, but this is 33 by 148, so it's an extra 20-feet in depth and it's a level lot."

Thus, most buyers hoped to replace this property with a new one, which is often the fate of older homes in the community. "Even though the house was nice, clean and livable … it's under built for what the lot provides," Mr. Hasman notes. "If it was a brand new house, it would be in the $2.6-million range."

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