Price hike generates three offers for Strathcona townhouse

503 East Pender St., No. 2, Vancouver, BC

Asking price: $1,099,013 (Oct. 19, 2022)

Selling price: $1,095,000 (Nov. 1, 2022)

Days on market: 13

Monthly maintenance fee: $402.97

Taxes: $2,412.86 (2022)

Listing agents: Dwayne Launt & Rick Stonehouse, Sutton Group West Coast Realty

What they got

The 39-year-old Jackson Gardens townhouse complex in Strathcona has been fully, and stylishly, restored inside and out. The 1,325-square-foot, bright and contemporary three-level, two-bedroom, two-bathroom unit has a wood-burning stove in the living room, in-floor radiant heat under polished concrete flooring and custom millwork throughout. There’s a large patio and a closed courtyard area off the living room and kitchen, double height foyer with skylight, bedrooms on the top floor, and a storage room and utility room on the lower floor. The building is close to Chinatown, downtown and bus stops.

The Action

Agents Dwayne Launt and Rick Stonehouse initially listed the property for a week at $999,013, which generated a lot of interest – but no offers. The seller had a price in mind and requested they use her lucky number.

“We felt that if one offer came in they would not naturally go higher than list [price], so we took it off the market and relisted higher,” Mr. Launt says.

They received three offers.

“Every situation is different,” he says. “We make market predictions with the information and experience we have. And we cross our fingers.”

The Agent’s Take

The Strathcona complex is, like much of the neighbourhood, a highly social place, which was a selling feature.

“There’s lots of passing veggies over fences and social wine drinking,” Mr. Launt says.

Also, the complex is also across the street from Strathcona Elementary School, which has a French immersion program popular with parents.

The sale completed Nov. 22.