Who’s the ideal buyer for a downtown Vancouver condo with no walls or flooring?

There’s a downtown Vancouver condo on the market for the shockingly low asking price of $288,000 — but this home in dire need of a renovation comes with more than one catch.

The one-bedroom unit steps from Stanley Park offers a coveted view of Lost Lagoon, but it’s currently stripped down to the studs. It’s not liveable, with no flooring, no walls, and no appliances.

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What’s more, the listing isn’t as cheap as it looks. The buyer will need to pay the entire thing in cash since bank financing including a mortgage would be difficult to secure for the co-op unit that can’t be lived in. Plus, the prospective buyer will need to pay for renovations.

REW

“The buyer profile on this property would be pretty slim,” realtor Jeff Appelbe told Daily Hive. “How many people do you know who have $500,000 in cash and a lot of time to spend doing this reno?”

He expects the listing will attract someone familiar with doing renovations and flipping properties who’ll be confident enough to fix it up. For someone with the right expertise, it could end up being a custom space with a coveted view of Lost Lagoon — if they’re okay with shared laundry.

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Listing agent Andrew Hasman had a similar view, saying the Vancouver condo would be too difficult for someone without renovation experience. But for someone who knows what they’re doing the unit could be a “tremendous opportunity” with an unobstructed park view. He added he’s already being “bombarded with interest,” saying there’s an appetite for the unit.

It’s not clear why unit 303 at 1972 Robson Street was stripped down and put up for sale, but its prime location close to Coal Harbour, English Bay, and Stanley Park may be enough to make it a desirable living space.

Would you ever take on a project like this? Let us know in the comments.