Dilapidated, uninhabitable Vancouver home on the market for $1.5 million
The stairs are crumbling and unusable. The windows and doors are boarded up. The roof is old and growing weeds.
But this two-bedroom home on Broadway in East Vancouver is on the market for $1.5 million.
In another example of Vancouver's astoundingly expensive real estate market, the listing agent is confident this ramshackle house will sell.
“Yes, absolutely,” said Usha Naidu of RE/MAX Crest Realty.
Billed as the future location of a “dream home,” the old-timer built in 1927 and located at 2535 East Broadway isn’t even livable.
In fact, Naidu admitted she hasn’t been inside, because the house was shuttered when power and water services were cut.
But the value of the property lies in its land, and the potential for redevelopment.
“So this is why it is priced the way it is,” said Naidu.
There are newer homes on either side, as well as some well-maintained character houses, so it’s unlikely to be part of a future land assembly. That’s when neighbours get together and agree to sell their properties at the same time to a major developer.
Even so, Naidu figures this probable teardown will sell within a few weeks.
CTVNews.ca Top Stories
Expert warns of food consumption habits amid rising prices
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
Documents reveal Ottawa's efforts to get Loblaw, Walmart on board with grocery code
It was evident to the federal government as early as last fall that Loblaw and Walmart might be holdouts to the grocery code of conduct, jeopardizing the project's success.
opinion The special relationship between King Charles and the Princess of Wales
Royal commentator Afua Hagan writes that when King Charles recently admitted Catherine to the Order of the Companions of Honour, it not only made history, but it reinforced the strong bond between the King and his beloved daughter-in-law.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
Improve balance and build core strength with this exercise
When it comes to cardiovascular fitness, you may tend to focus on activities that move you forward, such as walking, running and cycling.
New Norad commander calls Canada's defence policy update 'very encouraging'
American troops will be spending more time training in the Far North, the new commander of Norad says, a strategy that fits 'hand-in-glove' with Canada's renewed focus on Arctic defence.
B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
$70M Lotto Max winners kept prize a secret from family for 2 months
During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.