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Kitsilano condo owner cashes out spacious unit as prices soar

Done Deal, 2100 W. 3rd Ave., unit 304, Vancouver


Listing price: $539,000

Selling price: $552,000

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Previous selling price: $330,000 (2015)

Days on market: 8

Taxes: $1,305.83

Maintenance fee: $316.58

Listing agent: Steve Saretsky, Sutton Group West Coast

The Action: The seller bought the unit in 2015, lived in it for one year and then moved to Squamish, according to listing agent Steve Saretsky. He rented it out with plans of returning one day.

"As prices soared, he was surprised to see how much it went up and felt it was a good time to cash out."

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The unit attracted "a ton of traffic" from first-time buyers and investors, Mr. Saretsky says. It sold with multiple offers after a weekend of open houses.

What They Got: The Kitsilano building was built in 1974, so the one-bedroom corner unit is large by today's standards at 680 square feet. The kitchen was renovated and includes quartz counters and stainless-steel appliances. The 100-square-foot wrap-around balcony faces southwest. It includes a parking stall and storage locker. The building has no rental restrictions and is located within steps of Kitsilano Beach and shops.

"It's an outstanding building, located right next to everything on 4th Avenue," the listing agent says.

The Agent's Take: "The condo market is as hot as it's ever been," Mr. Saretsky says.

"One-bedroom condos remain the most in demand and most competitive for prospective buyers."

He says the average price per square foot for the area is up 16 per cent, year over year.

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Video: See inside the Vancouver mansion with a record asking price
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About the Author
Real estate writer

Kerry Gold is a born and bred Vancouverite, and knows her city well. More


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