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done deal

36 E. 14th Ave., No. 306, Vancouver

Asking price: $349,000 (Oct. 24, 2022)

Selling price: $361,800 (Nov. 1, 2022)

Days on market: 8

Monthly maintenance fee: $678.70

Taxes: (included in monthly fee)

Listing agent: Dwayne Launt, Sutton Group-West Coast Realty

The action

The unit has a galley kitchen.

This is a leasehold property, with a corporate-owned lease that is valid until 2073. Listing agent Dwayne Launt received three subject-free offers on the unit and the winning bid went to a first-time buyer who plans to live there. The seller was relocating out of the city.

What they got

The top floor southeast corner unit in a Mount Pleasant building built in 1967 is within walking distance of shops and transit, including the upcoming Broadway subway line.

The 723-square-foot, one-bedroom apartment is bright, on a quiet street, with a balcony and galley kitchen. There’s underground parking for rent at $125 a month and shared laundry. The monthly fee includes heat, hot water, high-speed internet, cable TV, property taxes and management.

The agent’s take

The top-floor, corner unit has a balcony.

“Many people asked me why they should buy a leasehold property and my response is that this is an entry level into the market. It may not appreciate at the same rate as a strata property, but it is housing security and it’s at a price that someone can afford,” said Mr. Launt, who says he’s previously owned leasehold apartments.

The sale completes Feb. 1, 2023.