The Kits Point Dream Lives
April 10th, 2008 Categories: Kitsilano, Vancouver Real Estate
Last week some clients closed on a Kits Point studio condo at 1450 Laburnum.
It seemed like the right fit for my clients who are a young couple that already live a block away and wished to buy an investment condo in their neighbourhood.
The studio at 1450 Laburnum is one of the best renovations I’ve seen in a long time, on a low priced suite. The owners literally gutted this 438 sq.ft. studio with a large private patio, even installed new windows, all new bathroom and kitchen and a Murphy bed. It comes with one secured parking and locker.
The least expensive studio to sell in Kits this year was on 4th avenue and sold for about $30,000 less. A studio in Black Swan on 4th sold a little more than Laburnum. The newly opened Vine on West Broadway has a studio that sold for $280,000. You’ll note they are all on busy streets.
So what makes the Laburnum studio worth just over $300,000? Firstly the location. Secondly, the lack of product - there are only 2 other condo buildings on Kits Point - 1425 Cypress and 1424 Walnut. Thirdly, living steps to Kits Beach, Kits Pool, the tennis court and other recreation that the area offers. Last but not least, the fabulous views shown in my picture.
You might ask if a studio condo at $300,000 will appreciate. Ah yes, it so happens I sold the same suite to another client in the late ’90s for just under $100,000 and it was also bought as an investment.
when it’s time to buy or sell your Kits condo, talk to Maggie
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