You can buy this Metro Vancouver home for the low price of $1 (PHOTOS)

Google Maps | Andy Dean Photography/Shutterstock

Want to be a homeowner for less than it would cost to buy a cup of coffee? In West Vancouver, that dream might become a reality for the low, low price of $1, but there’s a catch.

The home of BC billionaire Jimmy Pattison was sold to the District of West Vancouver earlier this year, and the district is set to take possession in August.

Google Maps

But, the district just wants the land to build a new park in the Ambleside community, so they need to get rid of the home. So, they are opening up the bids to anyone who wants to buy and relocate it instead of outright demolishing the property.

The yellow-painted structure has an ocean view, but unfortunately, the buyer won’t be able to take advantage of that. (Google Maps)

A photo from BC Assessment of the home on Argyle Avenue. (bcassessment.ca)

“To support the District’s sustainability initiative, the District’s preference is to have an interested proponent salvage the house. As such, the District is inviting submissions of an Expression of Interest (EOI) for proponents that are willing to purchase and remove the house at a price of $1 or more,” the notice online reads in part.

The home is at 1448 Argyle Avenue and has an assessed value of $5.4 million. It was built in 1950 and is 4295 square ft. It boasts four bedrooms and two bathrooms. The home itself is estimated to be worth just over $50,000.

The home is right on the water in West Vancouver. (BC Assessment)

While the price might be right, moving it won’t come cheap.

Realtor.com says moving a house could cost between $15,000 to $200,000. That doesn’t include the cost of the new land to relocate this home to, and as everyone knows, land in BC doesn’t come cheap anymore.

The other issue, you only have a few days to decide if you want to buy it and fill out all the paperwork to prove you have a place to put the house and can move it effectively. The deadline to inquire is June 20.

However, if this does come together, you could be living in a piece of BC history.

Jim Pattison (Forbes)

“1448 Argyle was home for me and my family, and also for my mother and father for many years,” Pattison said. “Today we are happy to help Mayor Sager and the District of West Vancouver in achieving their goal of creating this new parkland on the oceanfront.”

It’s expected that the new park, soon to be named Brissenden Waterfront Park, will be in the works soon, according to the district.

“This brings the District and the community one step closer to completing the acquisition of all the privately held waterfront properties between Ambleside Park and John Lawson Park,” a release in January reads in part.

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With files from Amir Ali