Housing affordability is an ever-present hot topic in Canada, especially here in Vancouver, so we decided to look at an affordable apartment to show you what you can get relatively cheaply.
The focus is a Mount Pleasant apartment listed for $350,000 in an iconic heritage building on the corner of Main and Broadway that you’ve potentially walked past hundreds of times.
What it lacks in size it may make up for in character for the right buyer.
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The Vancouver apartment in question is 557 sq. ft. with one bedroom and one bathroom at 175 East Broadway. The building is 113 years old, but the listing from Oakwyn Realty suggests the building has seen many improvements, such as being replumbed and getting new windows.
One of the reasons the price is so low is that the building operates as an undivided interest property.
Oakwyn Realty
The unit is south-facing and allows pets and rentals.
Oakwyn Realty
While pictures definitely highlight the age of the unit, the place still looks incredibly livable, especially if you’re into a more vintage aesthetic.
Some of the other perks of living in a building like this include, obviously, the location. Mount Pleasant is one of the most vibrant neighbourhoods in Vancouver, offering many options for restaurants, cafes, and breweries.
Oakwyn Realty
You can get pretty much anywhere in Vancouver from Main and Broadway, either on foot or via the transit options nearby, including major bus routes and the Canada Line.
Oakwyn Realty
The listing says the unit is “ready for your design ideas while keeping its charm with a claw foot tub, vintage radiators, gas range, and 10-ft ceilings.”
Oakwyn Realty
The building also offers common laundry facilities and bike storage.
Oakwyn Realty
The mortgage is also cheaper than the average asking rent for a one-bedroom apartment in Vancouver. With a five-year fixed-rate mortgage and a 20 per cent down payment of $70,000, you’d be looking at monthly payments under $1,600.
Would you consider a home like this if you had the budget? Let us know in the comments.