Metro Vancouver home listed for the low, low price of $99,000 (PHOTOS)

A Metro Vancouver home is up for sale for the low price of $99,000 (PHOTOS)

723 Fourth Street (Google Maps)

If you’re looking for a deal on a home in Metro Vancouver, look no further than 723 Fourth Street in New Westminster, up for sale for the low price of $99,000, but what’s the catch?

Listed by Oana Ardelean, the five-bedroom two bathroom home boasts 1,677 sq ft of space.

Having been built in 1908, the home’s aesthetic gives off the vibe of a different era, as does the price tag. The catch is that only the house is for sale, not the land it sits on. So what does that mean for the potential buyer?

An expensive tow truck, essentially.

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According to the McLean Heritage conservation plan in 2021, the home is known as the William and Annice Matthias Residence. It is considered a “building of historical interest” by the City of New West and was proposed to be added to the city’s Heritage Register.

The latest photos of the home suggest there is some minor disrepair.

Oana Ardelean

While the home is listed for $99,000, the land that it sits on is valued at nearly $1.7 million, according to BC Assessment. In its most recent assessment, BC Assessment also pegged the building at $91,700, so the list price is justified. Additionally, the most recent sale price of the home was $1.2 million in April 2020, which was still well below the current assessed value.

Oana Ardelean

Whoever picks up the building at $99,000 would also be responsible for moving it off the land.

It’s similar to a story Daily Hive Urbanized published a few years ago about a Vancouver heritage house in Cambie Village.

Oana Ardelean

According to Realtor.com, moving a house could cost anywhere between $15,000 to $200,000, which doesn’t consider other costs like building a new foundation, and of course, the cost of the land the house would be moved to.

Do you think this Metro Vancouver home is worth $99,000 plus the added cost of moving it?