421 sq ft: What you get in a Vancouver apartment under $400K
![421 sq ft: What you get in a Vancouver apartment under $400K](https://dpdajlq3ew794.cloudfront.net/20240726153119/vancouver-home-under-400.jpg?format=auto&width=1920)
A Vancouver apartment recently sold for under $400,000, and if you’ve ever wondered what affordability looks like in this city, here it is.
Initially listed for $388,000, 410-1330 Hornby Street sold for $10,000 more, with a final price of $398,000. It features 421 sq ft of space and was part of a RoomVu curated list of the cheapest listings in Vancouver last month.
According to Zealty, the listing was only up for six days before someone snatched it.
- You might also like:
- New 35-storey rental housing tower includes second entrance for the future South Granville SkyTrain station
- BC strata owners face big fine for inappropriate use of Ring camera
- "Don't touch me": Acting BC landlord accused of assault in tense case
![](https://images.dailyhive.com/20240726152337/262925745-00ccbc9e-7113-4117-94a2-72543861d024.jpg)
Virani Real Estate
This Vancouver home was built in 1986 and last sold for $220,000 in 2007, which means that its sale value went up by $178,000 in 17 years. The most recent assessed value of the unit was $395,000.
The property’s assessment history reveals that this apartment was assessed at its highest point in 2019 when BC Assessment valued it at $433,000.
![](https://images.dailyhive.com/20240726152703/262925745-918e078f-f85d-4093-8f95-b8402f9fd5a7.jpg)
Virani Real Estate
Meanwhile, as of this May, the benchmark price of an apartment in the city was $776,200.
![](https://images.dailyhive.com/20240726152711/262925745-3827618d-cf07-4644-b706-c1ec23cd51c8.jpg)
Virani Real Estate
The buyer gets some decent amenities, including a cute little patio in their studio home.
![vancouver apartment](https://images.dailyhive.com/20240726152718/262925745-ef4810d4-8a18-4679-836f-f1545815f766.jpg)
Virani Real Estate
While the unit is quite cozy, the building does offer some amenities, like a gym and a shared common area on the rooftop.
Virani Real Estate’s listing describes the “charming” Vancouver apartment as the “perfect blend of convenience and comfort.”
![vancouver apartment](https://images.dailyhive.com/20240726152725/262925745-f24e5471-3853-45c0-a0ae-9a476f925223.jpg)
Virani Real Estate
The location is hard to beat. The apartment is a short walk to Vancouver’s best beaches and Granville Island. It’s also near many good restaurants and cafes.
If you were able to buy a home at this price with a 20% down payment, your monthly payments would be roughly $1,800, which is lower than the average one-bedroom asking rent in the city, according to Rentals.ca.
Looking further back into this property’s sale history, it sold for a mere $99,000 in 2003.
Do you think this relatively low-cost apartment is worth it in this city that is not known for affordability? Let us know in the comments.