Vancouverites stunned by $11M price tag for three unassuming homes
A new real estate listing for three unassuming Vancouver homes is raising eyebrows on social media for their collective price tag.
Located in the city’s Sunset neighbourhood, the three houses at 1374 E. 41st Ave., 1380 E. 41st Ave., and 5768 Culloden St. are packaged together as a “central location future land assembly opportunity” for $11 million.
This represents a significant price increase compared to the combined assessed values for the three homes as of July 2024, which BC Assessment lists at $5,833,800. The land value alone for the three properties totals $5,179,000
REW
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The homes, centrally located near the intersection of East 41st Avenue and Knight Street, have a packaged lot size of 15,141 sq. ft, according to the listing by LeHomes Realty Premier.
All three houses in the land assembly package are described as having “low holding cost until building permit is ready.” The home at 1374 E. 41st Ave. is listed as a newly renovated cozy home if bought as a residence, with a four-bedroom suite on the main floor, and two two-bedroom suites on the ground level.
1380 E 41st Avenue (Google Maps)
Prospective buyers will find two suites at 1380 E. 41st Ave., and one main suite and one bedroom suite at 5768 Culloden St.
REW states that it has been a number of years since each property was sold:
- 1374 E. 41st Ave. last sold in 2011 for $950,000
- 1380 E. 41st Ave. last sold in 2003 for $253,000
- 5768 Culloden St. last sold in 1999 for $395,000
Vancouverites shared their disbelief over the price tag for the three homes on social media. One person described the listings as “luxury, redefined.”
What $11 million homes look like in Vancouver, Canada… what a beauty… pic.twitter.com/hJmkxRO3QI
— Mortimer (@mortimer_1) May 28, 2025
“This is East Van, what the heck on a busy street,” said one commenter. “Nothing special about that area, even comes close to that amount of money.”
“We are reaching levels of affordability that could only exist in nightmares,” added another person.
luxury, redefined
— Oohran Jim 🌶🪨 (@UrCakeDaddy) May 29, 2025
Others pointed out that the high price tag was tied to its value as a land assembly.
“That’s a high-end area. Obviously commands a premium,” said one person.
“That’s apartment land. Home is worthless beyond holding value. But I get your point,” chimed in another.
5768 Culloden St. (Google Maps)
Following an uptick in home prices in 2024, British Columbia could see a potential decline in housing prices in 2025.
According to a recent forecast by TD Bank’s economists, average home prices in B.C. will fall by 4.1 per cent in 2025, before rising by 2.7 per cent in 2026. This comes after a 1.7 per cent increase in home prices in 2024.
However, Vancouver homebuyers still face one of the biggest price increases in the country.
A recent report from Ratehub.ca shows that Vancouver saw an increase in average home price of $10,700 between January and February.
Only two other cities, Montreal and Halifax, saw bigger month-over-month price jumps in the report detailing how changing mortgage rates, stress test rates, and real estate prices impact the income required to buy a home.
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