Vancouver real estate: 3 vacant lots on pricey Belmont Avenue listed for $88 million

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      Belmont Avenue is where one can find the most expensive homes in Vancouver.

      In B.C. Assessment’s 2021 list of highest valued properties in the province, five of the top 10 spots are held by addresses on this West Side street.

      Here’s one example to show that only the ultra rich can afford this part of the affluent Point Grey neighbourhood.

      Royal Pacific Properties has listed three adjoining and mostly vacant lots on Belmont Avenue for a price of $88 million.

      The properties at 4883, 4889, and 4899 Belmont Avenue have a combined area of 5.05 acres or 2.04 hectares.

      A check with B.C. Assessment shows that the three lots have a total value of $43,275,000.

      This means that the listing price of $88 million is more than double the 2021 combined assessed value of the properties.  

      If $88 million is bit much, the biggest of the three is also offered as a separate sale for $52 million.

      That’s 4883 Belmont Avenue, which has an area of 2.8 acres or 1.1 hectares.

      B.C. Assessment records indicate an “outbuilding” at the property.

      As of July 1, 2020, the property has an assessed value of $26,223,000, and all of this is for the land.

      For the record, the two other vacant lots have the following assessed values: $17,052,000, 4889 Belmont Avenue; and $5,624,000, Belmont Avenue.

      Sydney Deng is the listing agent for the seller.

      Deng’s marketing material includes drawings of three potential homes.

      The listing also states that the properties are steps to Jericho Beach, Locarno Beach, and Spanish Banks.

      From there, one can also walk to UBC, and the Pacific Spirit Regional Park.

      Next to the three properties on the right is 4857 Belmont Avenue, the eighth top assessed residence in B.C. with a 2021 value of $31,576,000.