Historic Vancouver home still for sale despite millions in price drops
A Vancouver home that has been listed on and off since 2018 still hasn’t found a buyer despite millions in price drops.
The most recent assessed value, pegged by BC Assessment at $5,578,000, is much lower than the asking price.
Located on 1416 Acadia Road, the Vancouver home is currently listed for $9,998,000. It has been listed numerous times since 2018, and the asking price has steadily dropped.
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Angell, Hasman & Associates Realty
The ocean-view estate is in what the listing calls “Vancouver’s most coveted University Endowment Lands.”
It features five bedrooms, six bathrooms, and 7,070 sq ft of space on a 20,800 sq ft lot. It’s massive.
The listing also calls the home a “historic masterpiece,” which makes sense as it was built in 1935.
Angell, Hasman & Associates Realty
Interior shots reveal an exquisitely staged home, and it’s easy to see why the owner values it so highly. Despite the historic home’s size and design, BC Assessment only values the building at $712,000.
Angell, Hasman & Associates Realty
The home was listed for $18,980,000 in 2017, but that listing expired in 2018. The year after, it was listed again for $15,888,000, but that listing also expired.
Angell, Hasman & Associates Realty
In 2019, it was listed again with another price drop, down to $13,980,000. That listing expired in 2020 and stayed off the market for three years. It wasn’t listed again until 2023 when the asking price dropped to $10,500,000. That listing expired in 2024.
After that, it was listed twice more at the same price. One of those listings expired, and the other was terminated this August. Finally, it was listed earlier this week for $9,998,000.
Angell, Hasman & Associates Realty
The home features walk-out access to a private garden terrace and an outdoor summer dining area overlooking Pacific Spirit Park.
Angell, Hasman & Associates Realty
The sink area in this bathroom is a sight to behold.
Angell, Hasman & Associates Realty
“The entire property has been [professionally] landscaped and is beautifully illuminated at night with dramatic effect,” the listing says.
Angell, Hasman & Associates Realty
If you had all the money in the world and could make a bid on this home, what would you offer?