The small house was built in 1949, and likely had seen better days.
It’s not much to look at today, and the 621-square-foot residence will be torn down anyway.
Last month, 969 Adair Avenue in Coquitlam came on the market with an asking price of less than a million dollars, or $998,888 to be exact.
The seller’s agent Stonehaus Realty Corp. called the attention of investors to the property’s “huge future potential”.
Its zoning “provides for the development of a mixed use, medium and high density Neighborhood Centre that accommodates residential uses, retail, commercial, professional services and a range of public amenities”.
“Potential for Duplex, triplex, and fourplex possibilities as well,” the listing stated.
After seven days on the market, the Coquitlam real estate sold on April 6 for $1,450,000.
The sold price was slightly 45 percent more than asking.
Per B.C. Assessment, the property has a 2022 valuation of $947,000.
Most of the assessment or $937,000 is for the 6,612-square-foot lot.
The one-bedroom and one-bath home has a value of $10,000.
The listing stated that the lot has a frontage of 60 feet and depth of 100 feet.
The location is near the Lougheed Highway site of an IKEA store and a Real Canadian Superstore.