The Georgia Straight


- Carlito Pablo

AN EAST VANCOUVER property with what looks like a livable home has a 2021 assessment of $1,764,600.

Most of the value—$1,705,000—for 1248 East 22nd Avenue was alloted for the 49.5- by 122-foot lot.

Based on B.C. Assessment’s valuation, the one-and-a-half storey home with three bedrooms and two baths is worth only $59,600.

On November 5, the Kensington-Cedar Cottage neighbourh­ood property near Kingsway and Knight Street was placed on the market with an asking price of $1,999,988. It was marketed for its “great developmen­t potential”.

Based on the listing, a new owner could build up to three new housing units, subject to confirmati­on by the City of Vancouver.

“House of little value,” the listing declared about the 1920 dwelling. After six days, a buyer picked up the property for $2.3 million.

The “land-value only” deal was tracked by real-estate sites and g


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