Done Deal, 3103 - 938 Nelson St., Vancouver
938 NELSON ST., UNIT 3103, VANCOUVER
LISTING PRICE $1.048-million
SELLING PRICE $1.075-million
DAYS ON MARKET 7
TAXES $2,153.77
MAINTENANCE FEES $474.69
BUYING AGENT Ian Watt, Sotheby's International Realty
The Action: When people buy into the 48-storey One Wall Centre, they tend to keep buying in the Wall Centre and units rarely come up for sale, listing agent Ian Watt said. When this suite came on the market in January, there were multiple offers – all from within the building. Mr. Watt, who represented the buyer, says his client lived in the unit next door and that he intends to rent it out. The seller purchased a bigger unit in the building. "It's one of the best buildings in Vancouver. They really believe in that building."
What They Got: The unit is one of 72 condos within One Wall Centre, which was built in 2002 and includes Sheraton hotel rooms on the first 27 floors.
The 806-square-foot one-bedroom unit is one of the smaller ones in the building but is large by today's standards. It has a view of the North Shore Mountains, access to room service, hotel amenities, reduced hotel rates and is within steps of shopping and transit. Rentals are allowed.
The Agent's Take: His client will be able to rent the unit for between $4,000 and $5,000 a month, Mr. Watt says. High-end units in the West End or downtown rent for anywhere from $4,000 to $12,000. He cites a subpenthouse in Coal Harbour with a water view currently renting for $25,000.
"It's a funny mixture of renters," he says. "I find a lot of doctors rent these places. They make the money, but they don't have the money to put down on a condo because they are fresh out of school. A lot of people like that rent, as well as people who just sold their house and want to test out the condo market to see if they like it."
Kerry Gold