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done deal

PATRICK LUI/Patrick Lui

933 Seymour St., No. 215, Vancouver

Asking price: $699,000 (Aug. 8, 2022)

Selling price: $685,000 (Aug. 18, 2022)

Previous selling prices: $335,000 (2012); $330,000 (2008); $165,000 (2002); $124,900 (1998)

Days on market: 18

Monthly maintenance fee: $432.83

Taxes: $1,586.14 (2022)

Listing agents: Ian Watt & Shali Tark, Sutton Group West Coast Realty

The action

The unit has a small kitchen and a dining area.PATRICK LUI/Patrick Lui

The owner lived in the unit and then rented it out to a long-term tenant. The tenant left, so she thought it was a good time to sell, says listing agent Ian Watt. It attracted a lot of viewings. Most of the 20 or so who came through were people who planned to put it on Airbnb, he says. He received a back-up offer as well.

“If you want positive cash flow on an investment, it’s very difficult with just a regular tenant, so a lot of people are looking at [short-term rental] to cover all their costs, so that’s what the big attraction was with this one,” Mr. Watt says.

He estimates it could rent for $200 to $400 a night.

What they got

The building is one of the few in the area that allows short-term rentals.PATRICK LUI/Patrick Lui

This 645-square-foot loft unit is in a downtown building called The Spot and is one of the few in the area that allows short-term rentals, such as Airbnb. The suite feels spacious because of 15-foot, 4-inch high ceilings with floor-to-ceiling windows that look onto the cityscape.

There’s a small kitchen, dining area, outdated bathroom, bright den, stacked laundry and bedroom with walk-in closet on the second level. The 24-year-old building has a rooftop garden, gym and allows pets.

The agent’s take

Floor-to-ceiling windows look out on the city.PATRICK LUI/Patrick Lui

“They don’t build these loft-style buildings any more because that volume of ceiling height would be two units now,” Mr. Watt says. “They basically gave away 500 square feet of another floor. So when construction costs were low, and downtown was relatively cheap to buy land, I guess people could do this.”

The sale completed Oct. 29.