A house in the Vancouver neighbourhood of Kerrisdale that was deemed “not livable” has managed to sell for over $2 million.
The home, which contains four bedrooms and two bathrooms, sold for $2,150,000, according to BC Condos and Homes. The asking price was $1,680,000.
Sustained smoke and water damage were the primary factors in making the house uninhabitable.
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On the surface, the 91-year-old house, situated at 6408 Vine Street, actually seems like it’s in pretty good condition, aside from the slightly crooked mailbox.
Stepping inside tells a different story altogether.
Many portions of the ceiling throughout the house seem to be completely falling apart, and other areas of the building make the house seem like a perfect fit for a horror movie.
The 2020 assessed value of the home is listed at $1,958,300.
In 1982, the home sold for a measly $118,000.
Even in 1994, the house sold for $480,000, which is peanuts relative to today’s housing prices in the city.
The sale price of $2,150,000 is still well below the average cost of a home in Kerrisdale, which currently sits at $3.5 million, according to current Kerrisdale MLS stats on Zolo.
In October 2021, the benchmark price for a home in Metro Vancouver was $1,199,400.
The house would definitely make for a fun extreme makeover project.
The kitchen has also seen much better days.
It is not clear what the future of the home holds, but real estate listings suggest that the investor who purchased the home will likely be looking to rebuild on the 4,144-square-foot lot.
A recent report by Dexter Realty highlighted that the gap between housing prices in Metro Vancouver and other areas of BC, like the Fraser Valley, is shrinking.