East Vancouver house of 'little or no value' listed for $1.65 million
If you’re looking for a prime example of how expensive land is in Vancouver, regardless of the state of the building that stands on it, look no further.
3563 East 25th Ave. in the Renfrew-Collingwood neighbourhood went on the market for the first time on Tuesday, with an asking price of $1,649,000.
Described as a “rare opportunity” on a “beautiful street,” the property includes a 3,960 square-foot “building” lot.
3563 East 25th Ave. is pictured. (Image credit: RE/MAX Treeland Realty) The house on that lot is not much to look at—a 2-bed, 1-bath, 628 square-foot rancher built in 1937 that is beginning to show its age. There are no pictures available of the home’s interior.
The listing description admits the home itself has “little or no value.” BC Assessment puts it at $10,000.
The total property value as per BC Assessment is actually $1,721,000, a bit higher than what it’s selling for.
According to the City of Vancouver’s zoning map, 3563 East 25th Ave. is in an R1-1 district, so given the size of the lot, a potential buyer could build a multiplex with up to four units on the property.
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