“Development potential” was enticing enough for a Vancouver home to be sold for nearly $1M above the asking price.
The home, located at 3905 West 19th Avenue, was listed for $3,890,000 but sold for $4,800,000, a difference of $909,100.
It also sold well above the home’s assessed value, which BC assessment says is $3,933,500.
This 98-year-old home will likely be demolished for said development potential, but we can still see what the house looks like on the inside as it stands.
Royal LePage Westside
As we have repeatedly seen in the Vancouver real estate market, land value is the key for homes sold of this nature, and there is a disparity between asking and sold prices. For this Vancouver home, the land is worth $3,854,000.
The now-sold Vancouver home features four bedrooms, two bathrooms and 3,492 sq ft of space. The upper floors offer mountain views, and the property has already been subdivided into two lots.
“This property offers so many options,” the listing says.
Royal LePage Westside
The interior looks pretty good for a home of this age, but the aesthetic is visibly dated.
Location-wise, the property is near Pacific Spirit Park, University Golf Club, Jericho Becah, Dunbar Village, and UBC.
Royal LePage Westside
The Royal LePage Westside listing suggests checking with the City of Vancouver to determine the land’s re-development options.
With a bit of decorative work, the basement would be perfectly suited for a scene from a horror movie.
Royal LePage Westside