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Re/Max All Points Realty

209 Carnarvon St., No. 501, New Westminster, B.C.

Asking price: $349,900

Selling price: $354,500

Story continues below advertisement

Previous selling prices: $210,000 (2014); $90,500 (2001); $96,500 (1994); $88,000 (1991)

Days on market: 12

Taxes: $1,294.14 (2021)

Monthly maintenance fee: $484.92

Buyer’s agent: Shali Tark, Sutton Group West Coast Realty

Seller’s agent: Scott McLeod, Re/Max All Points Realty

The action

The previous owners had updated the bathroom and painted the suite, which is 712 square feet.

Re/Max All Points Realty

Buyer’s agent Shali Tark says her clients had been looking off and on for an investment property since late last year. They wrote an offer on the property but there were five offers and they lost out. But the winning offer was subject to financing and it didn’t go through.

Story continues below advertisement

“About a week later, the listing agent called and said, ‘Are you able to come back to the table because it looks like this is going to go sideways?’” Ms. Tark says.

They made a new offer and it was accepted.

“It worked out for my buyers to wait that one week,” she says.

The deal completes June 14.

What they got

The bright two-bedroom, one-bathroom unit is in downtown New Westminster, at Argyle House, built in 1976. The previous owners had updated the bathroom and painted the suite, which is 712 square feet.

The maintenance fee includes hot water and heat. It is within walking distance of the SkyTrain and shops, and rentals are allowed.

Story continues below advertisement

The agent’s take

The apartment is within walking distance of the SkyTrain and shops, and rentals are allowed.

Re/Max All Points Realty

Ms. Tark says investors are starting to return to the market now that prices have flat-lined and multiple offer scenarios aren’t always working out.

“There is definitely a shift in the market now, where the sellers are starting to notice that maybe those cash offers might not be the highest offer, but they can be the best offer.”

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