This is the Gardenia building in East Vancouver.  If youre looking to buy an affordable condo in vancouver, you may bump into this property in particular.

People ask 'oh why is this such a good price?' So, lets talk about that shall we. 

In an earlier video, i mentioned that  special levies are inevitable.So lets talk about a few different examples. 

3451 Springfield. 

This is 3451 Springfield in Steveston.  They paid special levies adding up to 30,000 dollars in manner that was a little bit late, but not so bad.  In 2018, a 2 bedroom unit was $380,000. 

3411 Springfield. 
This is 3411 Springfield.  In fact, this building is the twin previous building, just different strata.  In 2018, the price of a 2 bedroom unit was less than 300,000 dollars.  The new buyers had to pay special levies amounting to 50,000 to upgrade the building.  

So between  the 2 buildings, you can see who came out ahead. 

And then theres this building. Gardenia. A two bedroom unit are currently listed at less than 300k along E Broadway. However, the new buyer would have to take over the special levies that amounted to a total $215,000 by court order.  That means, the strata neglected to maintain the building to a point where it had to go to court. 

A lot of people ask, why don't they just sell the entire complex to a developor?  And the answer is, they can't!  The strata corporation many chances to rectify the issues and they chose not to.  So if you leave the decision to the court, this is what happens. 

So now you can see why special levies are inevitable. 

richmond realtor
richmond real estate
richmond townhomes
richmond homes for sale
richmond condos for sale
steveston homes for sale
steveston townhomes for sale
ironwood homes for sale
ironwood townhomes for sale