It’s no secret that affording a home in Vancouver is difficult, with detached houses falling outside the budget of many buyers.
The cheapest detached house on the market right now in Vancouver is 1827 Pandora Street, and it’s asking just under $1.3 million. There are cheaper laneway houses, leaseholds, and float homes, but this is the starting for houses where you’d own the land too.
Listing agent Victoria Qiu advertises the home’s potential to make money for its future owner. The blue and white house in East Vancouver is divided into three tenanted units that deliver “strong cash flow,” Qiu wrote in the home’s description.
The interior was updated in 2019, and zoning laws in the area mean there’s potential for future redevelopment.
1827 Pandora Street (REW)
“Whether you’re looking for a lucrative investment, a home with mortgage-helper suites, or a property with future development possibilities, 1827 Pandora Street is the perfect choice,” Qiu wrote.
The City of Vancouver normally only allows homes to have one secondary suite in addition to the homeowner’s primary living quarters.
Of course, not all rental suites in Vancouver are legal — meaning not all of them follow the City’s building code. Tenants who live in illegal suites are still entitled to protection under BC’s Residential Tenancy Act.
The City told Daily Hive that homeowners in certain neighbourhoods can convert their single detached house into a Multiple Conversion Dwelling (MCD) with up to six stratified units. But that’s not permitted in the City’s M-2 zone, to which the Pandora Street House belongs.