No, the joke isn’t in the fine print.
What appears to be a dumping ground in Vancouver is selling for the sweet price of $3.9 million.
Located at 2573 West 3 Ave., the home is described by Promerita Realty Corp. as a “very rare development opportunity to custom build your next dream home in the desired Kitsilano area!”
Sitting atop 6,000 square feet, the three-storey house was built in 1912. But a three-alarm fire in 2017 caused the roof to collapse, in addition to water and smoke damage.
Its latest assessed value, before the fire, was $3.713 million. The home itself accounted for $10,000 of that sum.
In its quarterly report, the BC Real Estate Association said Tuesday housing prices remain high while buying activity is stagnant as the market continues to be affected by stress-test mortgage qualifying changes in January.
“While these rules have had a negative effect on housing demand across the country, the impact has been especially severe in B.C.’s large urban centres because of already strained housing affordability,” the report said.
Here’s what roughly $3 million can buy in other parts of B.C.:
All housing prices listed, as reported by Point2Homes