Vancouver real estate: vacant detached home on West Side lot sells for less than $1 million

Vancouver real estate: vacant detached home on West Side lot sells for less than $1 million


  • The empty home at 1050 West 70th Avenue has a 2021 assessed value of $11,600, and the land is worth $908,000.

One often hears that it’s impossible to buy a detached home in Vancouver for under $1 million.

It’s generally true, but it’s not always the case.

A seemingly liveable rancher home with a basement on the West Side of the city sold for less than a million on July 15.

The two-bedroom and one-bath home at 1050 West 70th Avenue went for $988,000.


The sale came 49 days after the Marpole-area residence was listed on May 27 for $1,245,000.

The price was reduced to $1,088,000 on June 18.

The home is vacant.

The house sits on a lot measuring 30.8 feet by 95 feet, which is smaller than a typical 33- by 122-foot Vancouver lot.


When asked about the deal, realtor and market observer David Hutchinson told the Straight with the property’s RM-3A zoning, it might be good for a builder to demolish the structure and develop a duplex.

“It’s on a busy street,” Hutchinson noted.

It’s within the block west of Oak Street.

As of June 2021, a typical detached home in East Vancouver costs $1,696,500.

Homes are more expensive on the West Side, which includes Marpole.

On the West Side, a typical detached house costs $3,458,300 as of June 2021.

The property at 1050 West 70th Avenue was marketed mainly for its land value.

Its 2021 assessed value totals $919,600, of which $908,000 is for the lot, and $11,600 for the structure.

Real-estate sites and tracked the transaction. 

Follow Carlito Pablo on Twitter at @carlitopablo
No comments

Post Your Comment:

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.