350 East 2nd Ave., No. 315, Vancouver
Asking price: $689,000 (June 20)
Selling price: $675,000 (June 28)
Days on market: 8
Maintenance fee: $287.22
Taxes: $1,595.68 (2021)
Listing agents: Monica Harmse & Denny Dumas, Oakwyn Realty
The sellers had lived in the loft but bought a larger unit in the same building as their family grew, listing agent Monica Harmse says. They held onto the property and rented it out. The listing attracted three offers. A first-time investor had the winning bid.
“She wanted to get her foot in the door without breaking the bank and this was the perfect property go get her started,” Ms. Harmse says.
What they got
This live/work loft is in the older steel and concrete Mainspace building, built in 1996, in the heart of the Mount Pleasant creative district.
The 666-square-foot, one-bedroom unit with 10-foot exposed ceilings has floor-to-ceiling windows with southwest views of the mountains and city. The unit has been updated, with new kitchen appliances and stone countertops.
The building is walking distance to shops and the future Broadway subway. There is a rooftop deck and gathering space for residents. The building allows rentals and pets.
The agent’s take
In an uncertain market where some properties sell for below asking and some go into multiple bids, the listings in desirable areas are staying strong, says the listing agent.
“The live/work lofts can be great investment properties appealing to many different types of tenants in the East Van area,” Ms. Harmse says. “With a new SkyTrain station scheduled to arrive some time in 2025, this area is firmly established as a hub for artsy boutique businesses.”
The sale completed Aug. 10.
Your house is your most valuable asset. We have a weekly Real Estate newsletter to help you stay on top of news on the housing market, mortgages, the latest closings and more. Sign up today.