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Vancouver Industrial loft sells for $51,000 over asking in hot Gastown market

27 ALEXANDER ST. UNIT 606, VANCOUVER

ASKING PRICE: $469,000

SELLING PRICE: $520,000

PREVIOUS SALE PRICE: $254,900 (2005)

DAYS ON MARKET: Seven

MAINTENANCE FEE: $223 p/m

TAXES: $1,071

LISTING REALTOR: Paul Albrighton, Re/Max Crest Realty

This recently renovated Gastown one-bedroom loft is an industrial-style studio in a heritage conversion building with no parking. It has polished concrete floors, exposed ductwork, a galley kitchen with custom cabinets and track lighting. The seller spent three months renovating the 618-square-foot studio.

The Action: Listing agent Paul Albrighton showed the unit to 110 parties within a week, and received seven offers. The buyers are a couple looking to be closer to family in the area.

The Agent’s Take: The most desirable Gastown properties are those with a heritage restoration or unique design, says Mr. Albrighton. “There is not enough supply for the number of people looking either to invest or reside in the area. The Gastown market is very hot, with most listings achieving multiple offers, and often over-asking sale prices.”

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