Maybe we’re clowns, but we think that if you’re going to try and sell a tiny lot in Vancouver for triple the price you got it for, then you should at least bother to deal with the zoning thing. That’s right, the lot at 1912 William Street in Vancouver is on the market for $289,000, more than three times the sale price from the summer of last year.
Billed as a ‘micro lot’ the space is a mere 6 feet wide and 40 feet long, so you’ve got a whopping 540 square feet to work with, total. It’s more or less a dirt driveway right beside another home, but apparently, it could fit a tiny home on there. It’s plausible, but we’re wondering why none of the previous owners haven’t bothered to get it approved by the city. And even if it was, we’d be feeling like Chris Farley after buying the place and trying to actually start building.
According to the CBC, the lot was sold for a mere $88,000 in July of last year. So, the new owners are expecting at least triple the return in under 12 months. Our take? They’re salty that they missed out on the cryptocurrency wave and are trying to get their opportunity cost back. Well sorry mystery seller, but we’ve got memories like elephants!
As a matter of fact, we actually talked about the property way back in the fall of 2019, when it came on the market. It was originally listed for $108,000, as an add-on for the home right beside it. However, it looks like that home sold after the lot itself, so we doubt that it’s the same buyer.
So, if you’re actually thinking or purchasing this property, make sure to ask the seller exactly what they’ve done to make the property increase in value so significantly. We’re actually curious about it. You can check out the full listing for 1912 William Street in Vancouver right here.
Happy property hunting, Vancouver!