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Real Estate In a tight rental market, buyers cut a deal for Yaletown condo

1155 SEYMOUR ST., UNIT 1506, YALETOWN, VANCOUVER

ASKING PRICE $609,888

SELLING PRICE $585,000

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DAYS ON MARKET 16

TAXES $2,135

MAINTENANCE FEE $412

LISTING AGENT Nicolas Blachette, Sutton Group West Coast

The Action: The unit sold after only a couple of weeks because of its views and location, says listing agent Nicolas Blachette. "We had about 30 groups of buyers coming through. The majority of buyers were young couples and single up-sizers from a studio or one bedroom, or investors looking for a second home downtown to add a property to their rental portfolio. "The vacancy rate for rental property downtown is below three per cent, and the rental market is very hot."

What They Got: This Brava tower unit faces Emery Barnes Park with downtown views. It has an open floor plan with 912 square feet of space, two bedrooms, den, floor to ceiling windows, hardwood floors, granite counter tops, and an open kitchen plan. The building has 24-hour concierge, an outdoor swimming pool, gym and sauna.

"Yaletown is a neighbourhood made for walking or biking with its high density and multiple bike lanes," he says. "It offers a great urban lifestyle, with some of the best restaurants, bars and shops at your doorstep. The False Creek Waterfront and parks are also a few blocks away and the building features a semi-Olympic-sized outdoor swimming pool above the International Film Centre that was built with the original development."

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The Agent's Take: "This downtown south location is also changing fast with the redevelopment of the Granville Street loops one block away, and proposals being currently reviewed for innovative housing and commercial urban design with priority for pedestrians and bikers."

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