We did a double take on this when we saw it, but as it turns out – they didn’t leave out any zeros, it was no typo. This 1989-built 613 sq. ft. condo with one bedroom, one bathroom, and one parking space on North Templeton Drive in East Vancouver is selling for just $99,000. Could this possibly be the cheapest apartment in the City of Vancouver?
According to the Vancouver Observer, it’s no mistake. The condo unit is in very rough shape, a lot of renovations are needed to make it a livable place, and the owners hope to start a bidding war as a means of increasing its value. In contrast, other units in the building were recently sold for $198,000 (479 sq. ft. one bedroom) and $269,000 (653 sq. ft., one bedroom).
What could the previous occupants have possibly done to the unit that dropped its market value so much?
See the full MLS listing here.