This 1,656-square-foot unit in a fourplex has three levels. There are three bedrooms and two bathrooms upstairs, and a one-bedroom, one-bathroom, potential mortgage helper in the basement.Oakwyn Realty
1560 E. 10th Ave., Vancouver
Asking price: $1,699,000 (April 14)
Previous Asking Prices: $1,759,999 (April 15, 2024); $1,649,000 (Oct. 30)
Selling price: $1,699,000 (April 21)
Days on market: 274
Listing agent: Dwayne Launt, The Stonehouse Team, Oakwyn Realty
The building's developer usually builds duplexes and this was their first fourplex, the listing agent Dwayne Launt says.Oakwyn Realty
What they got
This is one unit in a fourplex in a new development off Commercial Drive, that is steps to the SkyTrain station, shops, parks and schools. The 1,656-square-foot, three-level unit is bright, with an open-floor plan on the main floor, three bedrooms and two bathrooms upstairs, and a one-bedroom, one-bathroom, potential mortgage helper in the basement. The contemporary home with a neutral colour palette has a fireplace, air conditioning, a high-efficiency furnace and lots of storage. Listing agent Dwayne Launt said the layout was a huge draw, with 10-foot ceilings on the main level.
The action
The home was still under construction when listed more than a year ago, but had been taken off the market a few times over the past year.Oakwyn Realty
The developer usually builds duplexes and this was their first fourplex, said Mr. Launt, who’d worked with the developer previously. The home was still under construction when listed with another realtor more than a year ago, at a higher price. It had been taken off the market a few times over the past year.
Mr. Launt took over the listing last fall at $1.649-million, then took it off the market over the holidays and brought it back in April at $1.699-million. Many people viewed the unit, and it received one offer, but that fell through at the last minute. A young family came in with another offer at the asking price, which was accepted.
The home was the last unit in the building to sell. The sale completed at the end of June.
There were two offers on the property, but the first offer fell through at the last minute.Oakwyn Realty
The agent’s take
People are still a little cautious,” Mr. Launt said. “Some people just aren’t ready to pull the trigger. They are waiting for the bottom, but they might miss it. Others are ready to move. They decide: ‘This is the right price, the right location.’”
“Will prices go down a little in the next few months? Maybe. But they could also go up. It’s always that gamble. But also, if you are moving into the home, it’s never really a gamble.”
The days of speculating and flipping homes are long over, he added.