A Vancouver mansion called an “urban oasis” in South Granville was recently listed for a whopping $8M over its assessed value.
Listed for $28,880,000, 1188 West 55th Avenue might be the epitome of luxury real estate in Vancouver.
The home features eight bedrooms, 12 bathrooms, a vast 15,371-square-foot property, and an even more massive 45,825-square-foot lot. Despite those specs, the home has been unable to find a buyer at this price since its first listing in March 2021.
Rennie and Associates first listed the home for $29,800,000 on March 22, 2021, and it expired several months later. Since then, Sutton Group-West Coast Realty has listed the house at its current asking price of $28,880,000 seven separate times, including the most recent listing, which went up earlier this month.
The current assessment of $20,466,000 is the highest it has been since at least 2015.
Sutton Group-West Coast Realty
The discrepancy between the asking price and assessed value was even larger in previous years when the assessed value dropped as low as $17 million. The asking price hasn’t changed.
Amenities included with the property are incredible.
Sutton Group-West Coast Realty
The home features a full-size tennis court, a mini-golf putting green, a Japanese zen garden, a seven-car garage with a heated driveway, a full-size indoor pool, and two media rooms.
Sutton Group-West Coast Realty
There’s also a wine cellar, nanny’s quarters, and an elevator.
Couches in the bedroom. (Sutton Group-West Coast Realty)
While the Vancouver mansion is certainly luxurious, pictures also make it look very cozy and comfortable.
Booze is probably not included, but it should be for $28M. (Sutton Group-West Coast Realty)
BC Assessment lists the current land value at $11,773,000. The buildings are worth quite a bit, too ($8,693,000).
The 7-car garage! (Sutton Group-West Coast Realty)
While it’s currently the 91st most valuable property in BC, if the asking price was the same as the assessed value, it would be among the top 50 most valuable. The Japanese garden even has a koi pond and a custom-made pavillion.
Japanese zen garden. (Sutton Group-West Coast Realty)
“Grand yet totally private,” the listing states.
“This urban oasis satisfies every need of a growing family.”
What’s your take on this South Granville mansion?