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done deal

Regent Park Realty

888 Carnarvon St., No 1105, New Westminster, B.C.

Asking price: $599,000 (March 26)

Selling price: $598,500 (April 28)

Previous selling price: $391,000 (2009)

Days on market: 33

Monthly maintenance fee: $379.80

Taxes: $2,224.14 (2022)

Listing agent: Bryan Yan, Regent Park Realty

The action

The owner-landlord was worried about rising interest rates, so listing agent Bryan Yan advised him to list sooner rather than later, back in March. After a couple of weekends, the owner thought they’d set the price too high, but Mr. Yan told him to wait.

“I said I’d try to get the auction atmosphere, and get people closer to that price. So the seller was very happy he listened to me.”

About 15 groups viewed the two-bedroom unit, which was tenanted to three renters, so it had a “lived in” look, which made it difficult to show. One renter slept in the living room. A couple made the winning offer, and Mr. Yan said they intend to live in the unit. The sale completed Aug. 4.

What they got

The 790-square-foot condo in the 13-year-old building has two bathrooms, laminate floors, granite counters in the kitchen and a new paint job.Regent Park Realty

The 790-square-foot condo in the 13-year-old building has two bathrooms, laminate floors, granite counters in the kitchen and a new paint job. It’s above the New Westminster SkyTrain station, and directly overlooks the passing trains. It’s in need of updates and new appliances, said Mr. Yan. It had been renting for $2,050 a month.

“The unit doesn’t have much of a view, but you can’t hear the trains if you close the sliding glass door. The location was great. It is a minute walk to the train platform. But that was the difficulty in selling the place, was the view of the SkyTrain.”

The agent’s take

The sellers had paid $391,000 for the new unit in 2009, and then turned it over to a property manager to rent it out.Regent Park Realty

The sellers had paid $391,000 for the new unit in 2009, and then turned it over to a property manager to rent it out. There are other units in the building for sale.

“All my clients are selling off their investments,” Mr. Yan said.

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