March 21, 2012

UBC Property Sells For Well Above Asking Price

Rare combination of an extra-large lot and protected green belt location push up price

1962 Acadia Rd., Vancouver
Type: 5-bedroom, 4-bathroom detached
Size: 3,255 sq. ft.
B.C. Assessment, 2012: $3,454,300
Listed for: $3,998,000
Sold for: $4,550,000
Sold on: Feb. 5
Days on market: 5
Listing agent: Andrew Hasman at RE/MAX Andrew Hasman
Buyer’s agent: Angel Xu at Regent Park Fairchild Realty

The big sell: After four offers and five days on the market, this property sold for more than $500,000 over the asking price. The home consists of a one-level rancher and a basement that had been built in the 1930s. The main floor has the majority of the living space and comprises 2,455 square feet. The spacious principal rooms lead off a 15-foot entrance hall. In addition, there is a kitchen and eating area, a family room, a laundry room, and four bedrooms. Downstairs holds a large recreation room and the fifth bedroom. According to listing agent Andrew Hasman, the house had been lovingly maintained and renovated by the sellers, who had resided in it for the past 27 years. What sets it apart and gives it its selling point is the setting: A parcel of land that measure 80 by 175 feet on UBC land that backs on to the protected reserves of the University Endowment Lands.

These transactions were compiled by Nicola Way of BestHomesBC.com and AssignmentsCanada.ca. Realtors — send your recent sales to nicola@besthomesbc.com

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