I’ve had a few comments to me asking if any of these “Deal of the Day”‘s are selling. The answer is “Yes”. Last week I posted about the Broadway property that was asking $399k and I am happy to report to you that they (as planned) went multiple offer with four offers received. So you see, if there is a good deal out there it is better to jump on it rather than wait.
Today’s Vancouver Real Estate Deal of the Day is a one bedroom condo in Point Grey on 10th near the University boundaries. It is a 645 sq.ft. ground floor unit with patio 1970′s built solid concrete building. One parking space is included but I have to apologize to those who wanted to bring their pets. Sadly (really hate these conditions) pets are not allowed.
If there’s another catch it is that it is a leasehold property. However, it is a pre-paid lease until 2083 so you’ve really nothing to be concerned about there. But it is a lease none the less and financing may be trickier so check with your bank/broker. Likely you will need 35% down which would be about $77k as it is asking $219,000.
Here’s the beauty of this unit: The remaining balance which you would likely finance at today’s amazing rates works out to about $700/month (based on 30y at 4.25%). Add in strata fees of $324 (includes heat!) and the total is about $1024. It should not be that difficult to rent out or if you have any children who will be attending UBC it is a great location for them to be in or it could also be a great apartment t downsize to or use as a pied-a-terre. All those figures are, of course, based on the list price. What you may be able to pick it up for is another matter.
Vancouver, BC 