As Costs soar, unit is cashed out by Kitsilano condo owner


2100 W. 3RD AVE., UNIT 304, VANCOUVER

Listing price: $539,000

Selling cost: $552,000

Previous selling price: $330,000 (2015)

Days on market: 8

Taxes: $1,305.83

Maintenance fee: $316.58

Listing agent: Steve Saretsky, Sutton Group West Coast

The Action: The seller purchased the device in 2015, lived in it for a year and then moved to Squamish, according to listing agent Steve Saretsky. He rented it out of returning with plans.

“As prices jumped, he had been surprised to see just how much it went up and felt it was a great time to cash out.”

The unit brought “a whole lot of traffic” from first-time investors and buyers, Mr. Saretsky states. It offered following a weekend of open houses with offers.

What They Got: The Kitsilano building was constructed in 1974, so the one-bedroom corner unit is big by today’s standards at 680 square feet. The kitchen has been remodeled and comprises appliances and quartz counters. The balcony faces southwest. It features storage locker and a parking stall. The building has no restrictions and is located within steps of shops and Kitsilano Beach.

“It is an outstanding building, situated right next to everything on 4th Avenue,” the listing agent states.

The Agent’s Take: “The condo market is as hot as it has ever been,” Mr. Saretsky states.

“One-bedroom condos stay the most in demand and most aggressive for prospective buyers{}”

He says the average cost per square foot to the region is year over year, up 16 percent.

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