Barclay Street home in Vancouver's West End for sale for almost $7 million

Barclay Street home in Vancouver's West End for sale for almost $7 million

 

This house on 1511 Barclay St. is listed for sale for close to $7 million.

This house on 1511 Barclay St. is listed for sale for close to $7 million. Nick Procaylo / PNG

A rundown residence on Barclay Street in downtown Vancouver that only needs “a little TLC” would need a buyer with considerably large pockets. 

The two-storey, 1922 house on 1511 Barclay has four bedrooms, three bathrooms and an eye-popping list price of $6.98 million. That’s especially noteworthy considering the same house sold for $2.8 million just over two years ago, $700,000 above its then-asking price. Land-title documents list the current owner as Sahara Jetha. 

The reason for the high price tag — now and then — is: “Location, location, location!!!,” according to the description of the listing by realtor Sydney Deng of Royal Pacific Realty Corp. 

The house at 1511 Barclay St. Nick Procaylo / PNG

The property is being marketed as a “land assembly” and an opportunity for “investment and self-use.” 

The 2,372-square-foot house has a “well-laid-out floor plan,” said the ad, with two bedrooms and living space on the main floor, another bedroom on the top floor and a fourth bedroom in the basement. 

It sits on a 33-by-131-foot lot on Barclay, just off Nicola Street, between an apartment building and a townhouse in the West End, where single-family dwellings rarely come on the market.

Like most of the West End, the property is zoned RM-5 — another selling point, as it allows for a floor-space ratio of 1.5, or up to 6,484 square feet of living space with the retention of the house and infill in the back.

The RM-5 zoning allows for residential developments with “compatible retail, office, service and institutional uses,” says the city, with an emphasis placed on developments that are compatible with the neighbourhood and suited to families with children.

A representative of Deng said she was out of town and not reachable by phone. 

In 2018, the property was assessed at $3.3 million for the land and $117,000 for the house, according to B.C. Assessment. 

A nearby house on a smaller lot on 977 Broughton St., which had operated as Nelson House B&B, was sold last year for $2.8 million, just slightly over its assessed value of $2.7 million. 

Another house on 1390 Thurlow St., near Pacific Street, sold for $6.4 million last year. It was assessed at $5.6 million.

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