The one-bedroom unit is in a 26-year-old building in downtown Vancouver.Engel & Völkers Vancouver
1003 Burnaby St., No. 1701, Vancouver
Asking price: $578,000 (July 11)
Selling price: $558,000 (Aug. 2)
Previous selling prices: $379,000 (2014); $368,000 (2011)
Days on market: 23
Monthly maintenance fee: $464.50
Taxes: $1,834.34 (2024)
Buyers’ agent: Bronwyn Bertles, Engel & Völkers Vancouver
The unit features a gas fireplace and an open-concept floor plan.Engel & Völkers Vancouver
The action
The buyers were looking for a unit for their daughter who had been renting in a noisy building, said their agent, Bronwyn Bertles. They’d been looking for several months in Kitsilano and Fairview but hadn’t been working with an agent. They contacted Ms. Bertles, who steered them away from the wood-frame units they’d been looking at in those pricier areas and encouraged them to look at the better value available downtown.
“You get a little more per square foot, and that will get you concrete construction, and that’s just quieter,” said Ms. Bertles.
They didn’t have competition, so some negotiation allowed them to trim the purchase price by $20,000 below asking.
Floor-to-ceiling windows show off city and mountain views.Engel & Völkers Vancouver
What they got
This 532-square-foot downtown high-rise condo has city and mountain views from its floor-to-ceiling windows in the living area and bedroom.
The sub-penthouse is a one-bedroom unit with an open-concept floor plan, gas fireplace, balcony and wide-plank wood flooring with a wood feature wall. Rentals and pets are allowed in the 26-year-old building, which is nicely landscaped. The unit includes a parking space.
Engel & Völkers Vancouver
The agent’s take
“It was a really workable space for a first-time buyer,” said Ms. Bertles. “It wasn’t really updated, but it was in good condition.” She added that it’s a good time for renters to switch to ownership.
“The true investors who were just buying to rent them out, they’re not out there.”
The sale was completed on Sept. 4.