“Where in the world would you pay $888,000 to live in this beauty?”

v988743_1

242 E 48th Ave, East Vancouver
2619 sqft
[really? -ed] Old-timer SFH, 33×140 lot
For Sale: Ask price $888,000

MLS®: V988743. Blurb: ‘Amazing property including legal basement suite. Some updating to electrical, and plumbing. Over 2600 sq ft of living space. Some hardwood floors, wood burning fireplace, newer deck, garage, 9 bedrooms [surely not! -ed.], 5 baths on 3 levels. ***close to all amenities and all levels of school including Langara College. All these on a great southern exposed, oversized lot. Well Priced,ASSESSED VALUE $865K.GREAT INVESTMENT WITH REVENUE POTENTIAL****NEEDS A LITTLE TLC’

Hat-tip to ‘Pretzels…thirsty’ for popping this example up in a recent thread and who added: “I think there should be an open web survey for this.
“Where in the world would you pay $888,000 to live in this beauty?”

This entire house looks like a bad basement.
One can only imagine the threat to one’s morale if you ended up an occupant of one of those 9 bedrooms.
– vreaa

39 responses to ““Where in the world would you pay $888,000 to live in this beauty?”

  1. $888,000 as a listing price again? Sheesh, I still think most people would rather pay $666,000 and take their chances with superstitions.

  2. Can the price of this property really be attributed to a density premium? This is not located in what I would consider a premium area of town.

    Realistically, if this property sells for 50% off current ask its a tear down or complete rebuild at best.

    You are left paying $450,000 for land.
    Conservatively build a humble 2500 sq/ft home for $150 sq/ft for a build cost of $375,000.
    You now owe $825,000 not including the multitude of other costs not included in that rudimentary calculation.

    Disheartening for those who still have a hope of owning in Vancouver.

  3. 9 bedrooms, 2619 sqft, 3 levels, needs just a “little TLC”, ask $888,000.

    Without looking at the picture, I would have imagined something completely different. Perhaps a “boutique” b&b or a small apartment building.
    Not in this city…

  4. I remember watching the news sometime last year and a similar east vancouver home caught on fire and in the aftermath, although no one was hurt, 12 people were now without a roof over their head. At the time I thought it was amazing there was so many people living in one house but now I see that maybe it could sadly be on the low end of what is out there …

    • I like the little platform under the window for a cat to sit on and eat wayward birds. It has to be worth at least an extra thousand in plywood and labour alone. I am offering 889,000 no conditions or inspection attached. Then I will let my cat live there just for the hell of it since you know all the crazy people pay that kind of money just for a cat platform.

      • I didn’t notice it until you pointed it out, but yes, the cat platform is a really nice touch.

      • I think it is a major selling point. Cat included in purchase price.

      • My tabby, sitting on my as I type, told me to up the bid to $890k. Besides the platform, the probable vermin biodiversity is more than worth it. And I follow her orders as I know what’s good for me.

      • anonymous poster #888

        If you have a cat and want to live in Vancouver you pretty much have to buy real estate as most rentals don’t allow cats.

      • Well if that is not a convincing argument to jump into the market i don’t know what is. My offer is 891,000 to knock out that nice EG character with the cat on a lap. Can’t have my own handsome little devil playing second fiddle to some other furry feline.

        This one is for the Cats. A real bidding war.

      • Ralph Cramdown

        I know women who cry themselves to sleep because they don’t know how they’ll ever be able to afford a place suitable for raising kittens. These crazy bidding wars just put cat ownership further out of reach.

      • Oh those poor girls! Give them a hanky and a tattered copy of Anne Landers. A paid subscription to Cat Fancy might help plus a round of free therapy sessions and they might just get cured of house lust.

        You think a boyfriend is pushing the envelope?

      • Kitty is not happy with your bidding: http://www.youtube.com/watch?v=vEvvRfuVk30

      • Hey, Ralph and Farmer, I know some women who bought and sold at the right time.

        Read it and weep.

      • Read what? I know some gals who bought at the right time too. My ex was one of them. The purchase made much more than a million (on paper of course)………now if only she would get on with it and agree to sell we would both be a lot damn happier.

        Women are so obsessed with houses……..makes me crazy.

  5. Or you could spend $ 850K for this home in a suburb of Phoenix AZ!

    http://www.highgarden-phoenix.com/mpListingDetail.aspx?MLNUM=4882102&gclid=CO6onJbB0LUCFQhxQgodez4ATQ

    I realize it is only 6 bedrooms, but the lot is a bit bigger and there is that guest house! Maybe they should up their asking to $ 888,888?

  6. “Amazing property”. Do these people have no shame?

  7. Legal basement suite looks especially nice. How an underground rental suite like that could be legal??? The home itself looks illegal enough to live in.

  8. OOH! Ooh! I know where! In a rain soaked, syringe laden, crack prostitute wigglin, bars-over-the-shop-window, don’t stop the car here cause it’s friggin scary can you see all the staggering drunks BPOE neighbourhood.
    “Aww, but that’s a neat old bike. Lets buy the place. “

  9. Real Estate Tsunami

    Shantytown living in the heart of the BPOE.

  10. The Royal Bank just said houses were affordable, what a joke!

  11. 9 bed? Lol well maybe the previous owner choose light colours, to make it look bigger! http://www.youtube.com/watch?v=lFSwYtEDX24

  12. They forgot to point out the “LARGE SUNROOF!” In the blurb.

  13. OMG, look at what the former tenants have to say about the place. Yikes!
    http://bedbugregistry.com/location/BC/V5W/Vancouver/242%20E%2048th%20Ave/

      • [NoteToEd: I almost forgot… Now you why when Randy Quaid General Merlin, who clearly recognizes an opportunity when he sees one, sought refuge from “StarWhackers” in the form of political asylum… he settled in Vancouver. Oh yes, two more things – etymologically speaking, the military expression, “BugOut!” has nothing to do with pest removal and… if I were a Roach, I’d probably be more worried about Liberace… he was compulsively tidy, you know… and he could tap dance.]

      • Ralph Cramdown

        I like to think I can occasionally make people laugh [sometimes even for the right reasons — ed.] but you’re a champ. Don’t ever stop.

    • Thank you, JS! I have just got to post one of the reviews in its entirety:

      242 East 48th Ave
      “Myself, and two others shared the basement suite this house for the year of 2012. DO NOT RENT! Upstairs or down…

      THERE WERE SO MANY BUGS!!! Although there were no bedbugs while we were living there, there was an abundance of other bugs (ants, spiders, silverfish, earwigs, and slugs living inside the jets in the tub.

      THE PLACE IS FALLING APART!!! The suite is poorly constructed, and within a year, over half the cabinet doors in the kitchen fell off, and none of the closet doors stayed on

      . The doorknob for the second bedroom fell apart and locked me in the room. The kitchen floods every time there is heavy rain. It is also very dark, and damp inside.

      THE LANDLORD IS INSANE!!! He opened our front door and walked into our house without any notice while my roommate was asleep. There is an extra room, with an exterior exit he hangs out in and chain-smokes. He dumped a pile of cigarette butts outside our front door. He steals things you leave outside. He has buried our laundry in the yard. He burns things in the backyard… The list goes on and on.

      DO NOT RENT THIS SUITE IT IS A SLUM, AND THE LANDLORD IS TERRIBLE!!!”

      • Ralph Cramdown

        How can Vancouver consider itself a world class city if it doesn’t know how to deal with bedbugs? Get a cat? NO!!!

        My brother, who has travelled more extensively in the Orient than I have, says this is “‘da bomb,” as it were.

        Ideally deployed just before a realtor shows the place for rent or sale, but always when you’re not planning on coming back home for a few days.

  14. So, let’s compare this to, say, London. (Is London “world class”? I forget…):

    http://www.rightmove.co.uk/property-for-sale/property-36015079.html

    About the same price (in fact cheaper), if you convert to £.

    Now that’s still a reasonably astronomical price. But at least you’re actually getting something for the money. Plus, it’s London.

    (Got this link from a friend of mine who saw this post.)

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