With land at a premium in Vancouver these days, even uninhabitable homes are selling for more than a million dollars due to the property value.
After a fire tore through a detached single-family home in the Strathcona neighbourhood, the badly damaged structure and lot on which it sits are selling for $1.5 million.
The fire at 739 Vernon Dr. occurred on Jan. 14, 2024, according to the Vancouver Fire Rescue Service. The real estate listing notes that following the fire no one can live in the house, which was built in 1925.
From the outside, significant fire damage can be seen on one side of the building.
While $1.5 million is what the listing asks for, the real estate agent notes that offers on the lot are being considered.
The property is valued at $1.47 million, according to BC Assessment; the building is $24,500 of that. The assessment was calculated in 2023.
According to REW, the house has only been sold a couple of times in the last five decades. In 1975, it sold for $39,500 and in 1995 it sold for $229,400.
Tearing down the house and moving the rubble is likely to cost in the tens of thousands of dollars.
Houses (that are livable) nearby range from $1.89 million to $3 million.
