Oakwyn Realty Ltd.
3520 Crowley Drive, No. 615, Vancouver
Asking price: $399,000 (November, 2023)
Selling price: $421,000 (November, 2023)
Previous sale price: $115,900 (2006)
Days on the market: 8
Monthly maintenance fee: $254.57
Taxes: $1,020.51 (2023)
Listing agent: Shaun Gregory, Oakwyn Realty
The action
The unit faces south with views of the city.Oakwyn Realty Ltd.
Listing agent Shaun Gregory had about 60 groups come through the open house for this 409-square-foot studio apartment, including a lot of first-time buyers and investors. The investor-owned rental unit showed well, he said, and as a result, they received six offers. Most of the offers were over the asking price. The purchaser intends to live in the home.
Another unit on a lower floor had recently sold for $410,000 and received multiple offers, which Mr. Gregory said tells him they priced the unit correctly.
“They were identical units and in relatively original condition. But we had the bonus of being on the sixth floor and there was no apartment above us.”
What they got
The 409-square-foot studio apartment is in relatively original condition.Oakwyn Realty Ltd.
The studio apartment is in a building built in 2001 in the Collingwood neighbourhood.
The bright unit faces south with views of the city and is surrounded by parks. Another draw is that it’s a few blocks from the SkyTrain station, near shops and amenities. The unit has carpeted floors and could use some updating, but the seller did add new flooring in the kitchen and bathroom.
The building is in solid shape and the strata has a decent contingency fund, which were also selling points, said Mr. Gregory.
The agent’s take
Oakwyn Realty Ltd.
“I’ve been in real estate 11 years now, and last fall was one of the slowest markets I’ve encountered,” said Mr. Gregory. “But there were still properties moving if priced appropriately and in good buildings.”
“It might have gone a little higher at the peak of the market, but I think that product type can only sell for so much.”
He added that Collingwood doesn’t attract the same prices as the rest of east Vancouver.
The sale completed the first week of February.