The Action: “My client was looking for life
at the centre of the action,” says agent Walter Wells. This 462
sq. ft. suite may be small and almost 30 years old, being
constructed in 1981, but it offered the lifestyle his buyer was
“She sold her newer, bigger suite that was
located 15 km away on the border of Vancouver and Burnaby to
take this smaller unit for about the same price,” he says. A
sale price under $250,000, no matter the size or the age, still
represents a very affordable option in downtown Vancouver.
What They Got: “Older is not always worse,”
says Mr. Wells. “This building was constructed in 1981 using
poured concrete. It has been well maintained and will never
suffer the fate of some of the newer buildings which have since
become ‘leaky condos’. It has a brick exterior and a tar and
gravel roof,” he says.
With its small size, this bachelor has a “nook”
for a bedroom, a large balcony, an open floor plan, and large
windows. There is an open courtyard in the centre of the complex
and this unit includes one underground parking stall and a
The Agent’s Take: In this case, the suite’s
“poor condition” was a plus, says Mr. Wells.
“The buyer has plans to immediately renovate and
modernize this suite,” he says. “She will rip out the old
carpets and replace them with engineered bamboo flooring, update
the bathroom with a new vanity and flooring, and have IKEA come
in and install a brand new kitchen. With similar renovated units
in the building selling for prices up into the $260,000s this
will instantly provide the buyer with a substantial return on
“Living downtown also allows for someone who
works downtown to realize the savings of no car insurance or
taxi fares, or even bus pass costs as one can literally walk
everywhere,” he adds.
The biggest motivator behind this sale was the
buyer’s desire for a downtown lifestyle.
“Money isn’t everything,” says Mr. Wells.