For a couple of million bucks, you can own an… unlivable Vancouver home.
The Arbutus-Ridge Vancouver home was listed by Sutton Group-West Coast Realty for $2,395,000. However, in just 12 days it sold above asking.
The buyer purchased the 3469 Arbutus Street home for a cool $2,500,000, though it was deemed “not livable.”
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Details About This Unlivable Vancouver Home:
Location: 3469 Arbutus Street
- Year Built: 1928
- Sale Price: $2,500,000
- Size: 2385 sq-ft
- Lot: 6250 sq-ft
- Front Lot: 50 sq-ft
- Bedrooms: 2
- Bathrooms: 1
According to B.C. Assessment, the value as of July 1, 2020 was $2,013,700. The lot itself is valued at $1,980,000, while the run-down house is worth only $33,700.
History On The Home
Marina Marzin, collector of taxes with the City of Vancouver, produced a report that showed the home was actually auctioned to the city on November 13, 2019.
At that time, the assessment was found to be $2,154,700.
Although the owner did not have a mortgage on the home, the taxes on the property were unpaid from 2016. The owner was also no longer living there. As a result of “no confirmed communication” for 4 years, the property became subject to the city’s empty homes tax, and B.C.’s speculation and vacancy tax. It was then auctioned off.
For more interesting homes in Metro Vancouver, head to our Real Estate section.
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