In case you needed another example of how bad the housing situation is in Vancouver, read on. Turns out, there is an unbelievably small piece of land for sale in Vancouver that can’t even hold a home. Despite the small size, it is still listed for six figures. What's crazier is that there are actually prospective buyers who are interested.
Owning a home is a distant dream for many of us millennials. Real estate is so expensive in Vancouver that purchasing a private island is cheaper than certain homes. If you do happen to find a place for under one million that isn’t a parking stall, then you seriously lucked out.
Unfortunately, one of the cheapest properties on the market in the city right now isn’t big enough to build a home on, not even a tiny one. According to the listing, it'll cost you a whopping $108,000 to be the proud owner of the land, which is only 540 square feet.
Narcity had the opportunity to speak with the realtor for this property, Renee Pelland of Century 21. According to her knowledge, there have been tons of people interested in purchasing the micro lot.
Pelland spoke with Narcity about the small lot for sale. She stated that despite the nine-foot by 60-foot size, there has been a lot of interest in the unit. Despite it clearly saying "CANNOT BUILD TINY HOME" in the description.
Situated in the popular Commercial Drive neighbourhood, this lot looks like a small yard attached to a house. While it seamlessly fits with the adjacent property, it is actually its own lot.
According to Pelland, no home can go on the lot but you could use it to build a park or a garden.
The listing says that the best thing to do is to purchase the adjacent lot, which is for sale at 1922 William Street.
According to the REW website, this lot goes for $1,539,000. Meaning that when all is said and done, you are looking at about a $1,647,000 investment.
By the looks of the images, the spot is barren and would need some work, especially if you’re going to install a garden.
Pelland can't say exactly how many calls she's received about the property but confirms that there have been quite a few. Since the listing has been up for about a year, a number of people have shown their interest, however, no lucky owners quite yet.