A Vancouver apartment unit that just sold saw a sizeable loss compared to its last sold price just three years ago.
Unit 24 at 1386 Nicola Street sold last Monday, December 23, for $2,880,000. Its most recent assessed value was $3,146,000, and it was also sold under the asking price of $3,000,000.
According to Zealty, the unit sold for $3,400,000 in 2021, $520,000 more than the 2024 sold price.
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The apartment, which is located in the Kensington Place building, features two bedrooms and three bathrooms.
Rennie & Associates Realty Ltd.
The interior gives off a historic vibe, and the listing states that it “retains the allure of its 1910 origins, boasting two fireplaces, hardwood floors, and intricate mouldings.”
The building itself is well over 100 years old.
Rennie & Associates Realty Ltd.
The listing also says the unit is perfect for “grand entertaining.”
There’s also a grand piano to aid in that “grand entertainment.” (Rennie & Associates Realty Ltd.)
The apartment has been listed for sale 11 times since 2018. It sold for $2,083,000 in 2012.
Rennie & Associates Realty Ltd.
The apartment also offers a gourmet chef’s kitchen and high-end appliances.
“Over the years, it’s been meticulously updated to embody modern sophistication,” says the listing.
When it comes to location, this apartment is hard to top. It’s literally steps away from Sunset Beach, English Bay, and all the delights nearby, including restaurants, cafes and shops. The new owner also gets two underground parking spots.
Google Maps
Whoever designed and provided the updates to the apartment paid careful attention to detail in every room.
Rennie & Associates Realty Ltd.
The listing says the unit is priced at $1,173 per sq ft. Over the last 10 years, the Vancouver apartment achieved its peak assessed value in 2019, when it was assessed at $3,384,000.
Rennie & Associates Realty Ltd.
If you were to purchase this apartment yourself, with a minimum down payment of 20% on a five-year fixed mortgage, you’d be looking at monthly payments of around $13,000.