In the latest ridiculous news surrounding Vancouver's tragically unaffordable housing, an actual former crack den just went on the market for nearly half a million dollars. The listing describes a one bedroom, one bathroom unit facing a courtyard in a modern Vancouver East condo building.
Based on the description, everything about it seems great - except for one tiny detail. The apartment was, "Previously used as an illegal substance packaging house for cocaine/fentanyl/marijuana."
"With a lot of work, this could be a fabulous condo," the seller writes, "Major work needed and appliances required throughout." The seller also makes note that it may be tough to take out a mortgage because of the apartment's um, unique history.
Somehow, the seller thinks the apartment is worth $419,000. The building itself is quite new, and it's steps away from the Vancouver Skytrain. Other apartments in the same building are selling for at least $100,000 more than this one, so it's definitely a bargain.
Many people say that there's absolutely no way that this condo will sell for the asking price. One commenter writes, "Half a million for a crack den that you can't get a mortgage on isn't currently habitable, and will never be able to sell because of the obligation to disclose its latent defect. Good luck to the seller."
It seems that, no matter what you do to fix it up, the "defect" stays with the property even after inspection and a reissued occupancy permit is granted. But, one commenter points out that it does have some value. "You guys laugh at it, but once you factor in the reno cost, permits, carrying costs, etc you're still looking at a decent deal."
Only in Vancouver would a $419,000 ex-crack house be considered a "decent deal."