You can live there, but you may not want to. One of the newest real estate offerings in the hot East Vancouver market is a 6-bedroom, 3-bathroom former marijuana grow operation. (MLS)
These days, it’s tough to find a home in Vancouver’s red-hot real estate market that costs under $1-million. Anyone in the market knows that homeowners have to make compromises to purchase a single-family home: carpet that needs replacing, updating a kitchen, fixing the backyard.
But they probably wouldn’t expect that the home would have the dubious distinction of being a former marijuana grow operation.
A 1968 “Vancouver Special” just listed in East Vancouver for $930,000 used to house a grow-op, according to its MLS listing.
The six-bedroom, three-bathroom home was briefly deemed uninhabitable in 2001 after the discovery, but a re-occupancy permit was issued just a few months later.
The listing says the 2,900-square-foot multi-level home underwent renovations eight years ago, including a new roof and hot water tank.
The real value of the home is the land it sits on: A nearly 6,000-square-foot property.
A depressing housing report released Wednesday by Vancity says the average price of a home in Vancouver will surge to more than $2.1-million by 2030 if the market remains unchecked.
That figure means owning a home would require more than 100 per cent of the median income to maintain.