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Vancouver Real Estate Coal Harbour condo sells under asking with multiple offers

Sutton WestCoast Realty

560 Cardero St., unit 502, Vancouver

Asking price: $768,000

Selling price: $766,000

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Previous selling prices: $522,000 (2016); $465,000 (2007); $175,000 (1998)

Days on market: 42

Taxes: $1,848.72

Maintenance fee: $428.75

Buyer’s agent: Ian Watt, Sutton WestCoast Realty

The action

The seller had been renting out the unit. The buyers came from Victoria to work in Vancouver. When they made an offer, the listing agent notified other interested parties and other offers came in. “[For a buyer], multiple offers is not ideal, but it’s the reality of the under-$800,000 market,” the buyer’s agent, Ian Watt, says.

What they got

The fifth-floor one-bedroom was built in 1998, when units were larger. It’s 680 square feet and is in a building on the Coal Harbour waterfront, near Stanley Park and downtown.

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It has a common pool, steam room, sauna, billiard room, table tennis, squash courts and 24-hour concierge. The unit has a large balcony that faces away from the ocean and includes parking.

The agent’s take

Most units in the building are larger and priced around $2-million and up, especially on the view side, says Mr. Watt. “If you are trying to find something in a good building at Coal Harbour across the street from the seawall, they don’t exist in this price range.”

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