Two Vancouver properties listed for a combined $62M raising eyebrows
Two Vancouver properties have been listed for a combined value of $62 million in Point Grey, a neighbourhood with very high land values.
Both properties have a combined assessed value of $50,630,600, nearly $12 million less than the combined asking price.
The neighbouring properties are in Point Grey at 4755 and 4769 Belmont Avenue.
- You might also like:
- No demand pushes Vancouver home in Shaughnessy $1.2M under assessed
- The winner of the BC leaders' debate according to residents
- Downtown Vancouver luxury condo tower project pivots to rental housing
Sadly, the listings don’t contain pictures of either property, but we can use Google Maps and BC Assessment to provide a little more information about each one.
4755 Belmont Avenue
BC Assessment
According to Zealty and other real estate listing platforms, 4755 Belmont Avenue is a 2,000-square-foot home built on a 55,757-square-foot lot.
The listing states that the existing property is a heritage house and that the property is tenanted. It’s listed for $30,000,000 and has an assessed value of $24,259,600. $24,181,000 of that is the land value, with the buildings having a value of $78,600.
“You can build your dream home on this single land or other potential development together with 4769 Belmont Ave,” the listing adds.
4769 Belmont Avenue
BC Assessment
Zealty says 4769 Belmont Avenue was built in 2022 and is a 640-square-foot property on a massive 60,504-square-foot lot. This property is listed for $32,000,000. Meanwhile, BC Assessment says it’s valued at $26,371,000, with $26,137,000 being land value alone.
Both properties are within the top 50 highest-valued properties in BC, according to BC Assessment.
What people are saying
Google Maps
The price and the nature of the listings of the two properties have led to some head-scratching.
Mortimer, a prominent real estate commentator on X, claimed that the owners of the two Vancouver properties are listed as Kral Nominee Ltd. and Belmont Nominee Ltd. in this post.
Others have responded with various theories about the properties. What do you make of these two properties? Let us know in the comments.