North Vancouver investors decide to sell a never-lived apartment
Investors in the real estate market are always looking for opportunities to make a profit. One such opportunity recently arose with a two-bedroom, three-bathroom condo located at 2375 Emery Court, no. 201, in North Vancouver.
The asking price for this property started at $1,199,000 in January but was later reduced to $1,149,000 in March. Eventually, the unit sold for $1,120,000 in March, which was an increase from its previous selling price of $949,900 in January.
The condo, which had never been lived in, offered 1,031 square feet of living space and came with high-end kitchen appliances, wooden cabinets, and large windows with views of park-like surroundings. Additionally, it featured two ensuite bathrooms with pedestal washbasins and an enclosed balcony. The building itself boasted amenities such as an indoor swimming pool, fitness center, lounge, outdoor terrace, bicycle room, and parking for electric vehicles. It was also conveniently located near paths, shops, schools, and parks, making it an attractive option for potential buyers.
The property was initially purchased by investors who planned to use it as a rental property. However, they soon realized that having a tenant in the unit might not yield the best return on their investment. As a result, they decided to sell the condo instead.
Despite the challenges of selling a property with a tenant in place, the listing agent, Michelle Vaughan, was able to secure a sale within 53 days. She received two offers and was able to negotiate a favorable price for her clients.
According to Vaughan, investors are currently facing challenges in the real estate market, with prices falling and expenses such as mortgage interest and legal fees eating into their profits. However, with the right strategy and expert guidance, it is still possible to make a successful investment in real estate.
Overall, the sale of this two-bedroom condo in North Vancouver serves as a reminder of the fluctuating nature of the real estate market and the importance of adapting to changing circumstances. In the end, the investors were able to sell their property for a profit, demonstrating that with the right approach, real estate can still be a lucrative investment.
