"Solid foundation": Badly damaged Vancouver home listed for large sum of money

A Vancouver home that reportedly survived a minor fire has been listed for a large sum of money that pictures might not suggest is worth the price.

According to Zealty, eXp Realty has listed 3361 East 28th Avenue for $1,700,000, which is slightly under the assessed value. Despite the home’s intact skeleton, this is likely a sale for the land value alone.

BC Assessment lists the land’s value as $1,711,000, while the building’s value is just $10,000. Still, seeing pictures of a home in the shape that it’s in selling for nearly $2 million might be jarring to some.

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The Vancouver Special, which is located in the heart of Renfrew Heights, once featured five bedrooms and three bathrooms. However, based on pictures of the home’s guts, it doesn’t look like any of the rooms survived the fire.

eXp Realty

The East Vancouver home was listed last week.

eXp Realty

The last sale was in 2013 when the home was sold for $915,000. Looking back through the assessment archive, the home reached its highest assessed value this year. The house was built in 1985.

“It presents a fantastic opportunity for redevelopment and customization to suit your vision,” the listing says.

Some folks are discussing the property on X.

Talking about what the listing calls a “minor” fire, some folks disagree.

Minor fire in a house made of wood is always a major fire 🤣

— Tom (@tholder) July 20, 2024

eXp Realty

A notable social media real estate analyst also reported that there might be a dispute over the insurance between the owner and the insurance company.

“it experienced a minor fire”….

Looks pretty major to me…

Looks like there is a court dispute over the insurance between the owner and insurance company… pic.twitter.com/cNmuQTCUXd

— Mortimer (@mortimer_1) July 20, 2024

How much would you be willing to put up for this home or land? Let us know in the comments.