102-year-old Mount Pleasant house sells for $200,000 over asking

A century-old home in Vancouver’s Mount Pleasant neighbourhood recently sold for $200,000 over asking, showing a home doesn’t have to be luxurious to fetch a multimillion-dollar offer.

The home at 930 East 10th Avenue was built in 1922 and contains five bedrooms spread over 1,500 square feet. As is common for homes of that era, it contains asbestos, which the new owners are working to remove, according to descriptions of work posted at the fenced-off home.

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The house was listed in November 2023 and sold for just over $2 million after less than a week on the market.

“The location is excellent. It’s just on a very nice, quiet street. And it’s perfect for redevelopment there,” listing agent Derek Chew told Daily Hive Urbanized.

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It was likely the lot size and location that attracted the buyers rather than the house itself, Chew added. Houses on the street can also be developed into duplexes, which the home’s new owners could do if they wanted. The property has been fenced off for construction, though the documents posted at the site don’t say what the final product will look like.

As of July 1, 2023, BC Assessment valued the entire lot at $1.95 million, but the building only accounted for $28,000.

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Mount Pleasant is a sought-after area close to downtown, and it will soon be even easier to access the west side of the city once the Broadway Line is completed in 2026. Chew and his team have been handing out flyers in the area this month, offering homeowners free property value assessments.

As a real estate agent, he’s always trying to connect with buyers and sellers and find lots to suit builders.

“Mount Pleasant is a very vibrant area with trendy coffee shops, retail stores, and restaurants,” he said. “It’s just a very central location south of downtown. And, you know, that’s why it’s very desirable.”