The live/work studio warehouse conversion was completed in 1996.Oakwyn Realty Ltd.
228 E. 4th Ave., No. 204, Vancouver
Listing price: $630,000 (Aug. 28)
Selling price: $609,000 (Sept. 1)
Previous selling price: $628,500 (2024); $590,000 (2021); $111,000 (1996)
Days on market: 4
Monthly maintenance fee: $337.39
Taxes: $1,783.64 (2024)
Listing agent: Wendy Milligan, Oakwyn Realty
Buyers’ agent: Ian Watt, Heller Murch Realty
The building has an interior courtyard with a wraparound balcony.Oakwyn Realty Ltd.
What they got
This 597-square-foot loft is in the trendy Mount Pleasant neighbourhood, steps to restaurants and transit. The live/work studio warehouse conversion was completed in 1996, and although it’s a loft, the unit has a separate galley kitchen and flex area with custom built-in closets, and an open concept dining and living room area. There are concrete floors, an upstairs bedroom loft accessible by ladder and floor-to-ceiling windows with mountain views. The building has an interior courtyard with a wraparound balcony.
The home has a galley kitchen an open concept dining and living room area.Oakwyn Realty Ltd.
The action
The unit sold quickly, although the seller sold it for less than they’d paid 19 months prior. There were no competing offers, buyer’s agent Ian Watt said. Mr. Watt said his client was looking for a unique property and was drawn to the loft’s location.
“He didn’t want a generic box, so he waited for the right place,” Mr. Watt said.
The seller had purchased the property in January, 2024, for $628,500.
The sale was completed on Sept. 24.
The unit has a flex area with custom built-in closets.Oakwyn Realty Ltd.
The agent’s take
“If anyone wants to sell right now, they need to take a hit on pricing. The market is a buyers’ market. So, prices have to be less than last year and way less than two years ago,” Mr. Watt said.
“Some people are holding firm, and they are just keeping their properties. Everyone should ask their realtors for an honest evaluation based on past sales and then adjust appropriately for the current market. And if they don’t like the prices, they should just plan to keep it for another 10 years. This seller listened to her realtor, and they got the job done.”