3530 Cambie St., No. 303, Vancouver
Asking price: $529,000 (March 29, 2023)
Selling price: $553,000 (April 15, 2023)
Days on market: 17
Taxes: $1,275.84 (2022)
Monthly maintenance fee: $374.10
Buyer’s agent: Krystian Thomas, Sutton Group West Coast Realty
What they got
The spacious, top floor, 997-square-foot, one-bedroom unit is in a co-op building on Cambie Street near Broadway, built in 1948.
The 23-unit character building is well maintained and close to the SkyTrain, Vancouver General Hospital and shopping. The unit’s kitchen and bathroom were recently updated.
There is parking, shared laundry, and, while pets are allowed, there is an age restriction that doesn’t allow children.
Not many people understand the co-op model, which can be extremely good value, says buyer’s agent Krystian Thomas. In this building, residents own shares in the co-op and lease their units.
Buyers are required to make a 35-per-cent down payment and do an interview with the co-op management, says Mr. Thomas, who specializes in co-ops and has sold six units this year.
The Cambie Street unit was an estate sale and received multiple offers.
“For my client, it was, ‘Oh my god, nearly 1,000 square feet, and in my neighbourhood – I will never find this again,’” Mr. Thomas says.
The Agent’s Take
“Other places in that Cambie Corridor are selling for $650 to $800 for a one bedroom,” says Mr. Thomas.
“A co-op doesn’t work out necessarily for investor types, but for someone who wants a great home – hey, I just got you 1,000 square feet for $550 a foot, basically.”
The sale completed on June 1.