These are the top five bargain properties in Vancouver right now

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When it comes to finding the best home deals, insider information is always a bonus. With the Vancouver housing market being notoriously expensive going from affordable to outrageous, we are all in desperate need of some good news and good deals. 

That’s where these homes come in. They are listed well below government assessed value, are under $1 million, and fresh on the market. It’s the cream of the crop of home deals.

How it works is the BC government analyzes and gives a price based on each property’s factors like size, layout, shape, age, neighbourhood, the condition of the property and more. When listing prices appear lower than as compared to government value, these incredible value-for-money homes set off alarm bells, demanding to be seen and bought. 

These are the top 5 property bargains in the city this month:

3090 Kings Avenue: $725,000 (46% below assessed value)

3090 Kings Avenue, courtesy of Italo Fionda via roomvu.com

This is a seven bedroom, three bathroom house listed for sale by agent Italo Fionda of RE/MAX Crest Realty. They are asking $725,000 while the assessed value for this property is $1,333,800.

Features: 

This is a rare blue gem! Aside from its vibrant shade of blue, for a 50% freehold interest, you can get this desirable property. Walking distance to 29th SkyTrain station, schools and recreation facilities. Spacious second floor unit and loft with a large deck and panoramic views of the North Shore mountains and Vancouver cityscape. You are purchasing 50% of the whole property which consists of two separate living accommodations. Each owner has exclusive use of their designated unit as stipulated in the Co-ownership Agreement.

301-4542 West 10th Avenue: $968,000 (22% below assessed value)

This is a two bedroom, two bathroom condo listed for sale by agent Abbott Fong of Royal Pacific Realty Corp. They are asking $968,000, while the assessed value for this property is $1,239,000.

Features: 

One of the bigger end units for sale in this concrete building with an open courtyard design. Unit faces northwest. Priced at $810.00 per square foot, the unit is approximately 18 years old, so bring your decorating ideas. Large corner parking spot with a full size locker. The den has a window and can be used as a third bedroom. 

2701-610 Granville Street $728,000 (21% below assessed value)

This is a one bedroom, one bathroom condo listed for sale by agent Vessie Chela PREC* of RE/MAX Masters Realty. They are asking $728,000 while the assessed value for this property is $926,000.

Features:

Beautiful and sunny southwest corner unit at “The Hudson.” Amazing sunsets views of the ocean, North Shore Mountains and the Sparkling lights of downtown. This home offers loads of light, an efficient open floor plan, kitchen with granite countertops, eating bar, loads of cabinets, sunny solarium, perfect for a “dinner in the sky experience” and spacious bedroom with walk-through closet. The Hudson is a very popular, Live/Work zoned, pet/rental friendly property with 24/7 concierge, gym, lounge, and SkyTrain under the building.

This is a 1 bedroom, 1 bathroom Condo listed for sale by agent Anna Torrance of RE/MAX Crest Realty. They are asking $440,000 while the assessed value for this property is $543,200.

Features: 

Beautiful one bed in Kitsilano with mountain and city views. Just a few blocks from parks, seawall, Granville Island, restaurants, shopping and transportation. Quiet corner suite with wrap-around balcony and view. Lots of updates, bamboo kitchen cupboards, granite counters, s/s appliances, slate backsplash, laminated floors with new baseboards. New tub and toilet.

209-2238 Eton Street: $529,000 (18% below assessed value)

This is the most significant standalone redevelopment proposed for Vancouver’s Cambie Corridor to date — outside of the neighbourhood-sized redevelopments such as Oakridge Centre, Pearson Dogwood, Langara Gardens, and the cluster around Marine Gateway.

Local developer Polygone Homes has submitted a rezoning application to redevelop 5740 Cambie Street — the prominent southeast corner of the intersection of Cambie Street and West 41st Avenue — into a two-tower, mixed-use redevelopment.

The development site is currently occupied by a pair of 1959-built three-storey buildings with office and retail. It is just across the street from Oakridge Centre and the Canada Line’s Oakridge-41st Avenue Station.

Designed by DIALOG, the proposal calls for two towers — a 27-storey market strata tower (278 ft) and a 14-storey market rental tower (148 ft) sitting on top of a four-storey retail and office podium.

A total of 213 homes are proposed, including 133 market strata units and 80 market rental units. The market strata unit mix is 14 one-bedroom units, 104 two-bedroom units, 14 three-bedroom units, and one penthouse, while the rental unit mix is 10 studio units, 31 one-bedroom units, and 39 two-bedroom units.

Approximately 12,500 sq. ft. of retail and restaurant space on the ground level will help activate the complex’s frontage with Cambie Street.

The remaining three podium levels will be used as office space, with approximately 46,000 sq. ft. set aside for non-profit organizations and the top podium level used for 21,000 sq. ft. of market office space.

Four underground levels will contain 288 vehicle parking stalls and 559 bike parking spaces.

Building rooftops will be packed with green space, both for functional use and as green roof planting areas. There will be communal patios, lounges, kids play and BBQ areas for all residents, as well as a deck for offices on the east side.

On the ground level, a “grove” in a mid-block plaza and a strip of greenery — featuring trees and plantings — will be integral to the building’s stormwater strategy.

“At one of the most prominent urban intersections in Vancouver, this project strives to set the tone for the Oakridge character area by providing a bold design at the ground plane,” reads the design rationale.

“The main design move is this puncturing of the building with a green grove to create a strong central element at the mid-block. It will serve as a place to give protection from the busy Cambie corridor and will be a place where people can grab a meal or a coffee on their lunch break or before heading to the Canada Line.”

Altogether, the project entails 317,000 sq. ft. of floor area on the 34,000-sq-ft site, creating a floor space ratio density of 8.61 times the size of the lot.

The property’s latest assessed value is $48.7 million.

The scale, forms, and uses of this site were established by the municipal government’s Cambie Corridor Plan. Just one block south, heights of 330 ft — the tallest in the Oakridge Town Centre area outside of Oakridge Centre — are permitted.