Fire-destroyed Vancouver home listed for $3.99 million

Aug 20 2018, 6:28 pm

There is a ‘rare’ redevelopment opportunity in Kitsilano that is fetching for a price of $3.99 million.

In fact, some of the demolition work required for the Vancouver home is already complete as the property was destroyed in a fire in December 2017.

Listed by Promerita Realty Corp, the property is located at 2573 West 3rd Avenue, and at the moment it is nothing more than the remains of a wreck of a home, which was previously a three-storey structure built in 1912.

According to BC Assessment, the property had eight bedrooms and five washrooms, and its latest assessed value is $3.713 million – based on the assessment in July 2017 before the fire. It was previously sold for $3 million in November 2016.

Of course, any buyer at this point would be purchasing the rising value of the land, which spans 6,000-sq-ft with lot dimensions at 50 ft width and 100 ft depth.

Existing zoning for the site permits a new building with multiple residential dwellings.

Before

2573 West 3rd Avenue Vancouver

The property at 2573 West 3rd Avenue, Vancouver, still intact in May 2017 before the fire. (Google Maps)

After

2573 West 3rd Avenue Vancouver

The property at 2573 West 3rd Avenue, Vancouver, destroyed after the fire. (Promerita Realty Corp.)

See also