Vancouver residents have grown accustomed to shocking real-estate listings. But every once in a while, there’s still a house for sale that catches people’s attention.
This single-storey home on Cambie Street, for example. Asking price: $11 million.
It’s a three-bedroom, one-bathroom detached house just steps away from Queen Elizabeth Park, at the intersection of Cambie and West 35th Avenue.
A three-bedroom is increasingly hard to come by in this city, but $11 million still sounds like a lot for a one-storey house, even if it is within walking distance of a SkyTrain station.
Of course the shocking price tag is not for the small building that stands there today, but for the land beneath it.
The address, 485 West 35th Avenue, is situated along the Cambie corridor, where the city has spent the last couple years approving rezoning applications for projects with significant density increases beyond the single-family homes that stand there today.
The seller is likely to receive the price they’re asking for, or a sum close to that. Then the new owner will tear that three-bedroom house down and construct something larger. As crazy as it might sound, $11 million isn't a bad price for a lot that could one day soon see a six-storey apartment complex built there.