Skip to main content
//empty //empty

Re/Max

588 E. 5th Ave., No. 348, Vancouver, B.C.

Asking price: $538,000

Selling price: $498,000

Story continues below advertisement

Previous selling prices: $321,000 (2012); $289,000 (2008); $102,000 (2000); $102,000 (1997)

Days on market: 21

Taxes: $1,184.02 (2020)

Listing agent: Mary Cleaver, Re/Max

The action

The unit is in a low-rise building that dates to 1974.

Re/Max

The unit sold on April 26, after several weeks on the market. It had received a couple of offers that weren’t accepted by the seller, according to listing agent Mary Cleaver.

They relisted the property at $499,900 and got a decent offer. The buyers who made the third offer were highly motivated, she says. The deal completed on May 28.

What they got

The kitchen has new cabinets and granite counter tops.

Re/Max

This 678 square-foot top-floor unit in a low-rise building with mountain view was built in 1974, but has been fully updated in more recent years with new cabinets, granite counter tops, hardwood flooring, new ceilings, pot lights, an updated bathroom with soaker tub and ensuite laundry.

Story continues below advertisement

The building is in Mount Pleasant within walking distance of shops and transit, and allows rentals.

The agent’s take

“The buyers were keen on Mount Pleasant and saw the value, and we were able to put it together,” Ms. Cleaver says.

“The buyers are investors and the seller is moving a little further out, but staying within Greater Vancouver.”

Economist Mohamed El-Erian says that the coronavirus shutdown will create a buyer's market for real estate, offset by reduced incomes putting stress on the whole sector. El-Erian was in conversation with Rudyard Griffiths from the Munk Debates. The Globe and Mail

Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.

Report an error Editorial code of conduct
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies