Surprised the asking price was so low, honestly.
How much did the neighbour spend on their house though, ya know? I would be so pissed to have some ugly modern home go up beside the house I spent millions on. When I was gardening we would drive around these rich neighbourhoods and the new homes stuck out like sore thumbs, they had no charm and brought down the entire look so hopefully whoever buys it isn’t going to be that asshole.
It's a Kitsilano RT-8. or a discretionary variation in the regulations. This means a discretionary review process, which can be quite time-consuming. In other words, it's a historical district where you can't touch shit. In other words, you can build condos or apartments there and your neighbors can't. Does that make it worth $4m? Dunno. But now people who aren't even aware of vancouver real estate know you can build condos in Kitsilano if you spend enough money. From a realtor perspective it's a win. Under RT-7 and RT-8, almost all development permit applications will involve a conditional use,
“You can put about 4,500 square feet of building there and you can divide it into four units,” he said. “Each unit you can have 1,100 to 1,200 square feet depending on how you allocate it.”