East Vancouver, BC, 2 Bed 2 Bath Condo for Sale - #804-4028 Knight St - King Edward Village
View all of Ryan's Active listings.
Located on the corner of Knight St and Kingsway is King Edward Village. Completed in 2008 this East Vancouver residential strata building is still under warranty.
Designed with community and convenience in mind, East Vancouver's King Edward Village has a grocery store, a Vancouver public library, bank and Starbucks right on site. Walk to everything!
The location is very central: 10-15 minutes driving to Downtown Vancouver and bus stops on both Knight St and Kingsway.
Two bedroom condo's currently for sale in East Vancouver range from $164,900 for 750 square feet in a 21 year old building with shared laundry to $1,299,900 for a 1,843 square feet Penthouse with 2 parking, insuite laundry and roof top patio with views of Burrard Inlet.
This East Vancouver, 2 bedroom, condo has been owner occupied since new and has been maintained in ‘Show Room' condition. This East Vancouver home is priced to sell in today's active Vancouver real estate market.
Open House, Sunday November 22nd from 2-4pm.
Contact Ryan directly today for more information on this East Vancouver condo for sale or any other East Vancouver condo.
Burnaby, BC Residential Real Estate Sales statistics for the month of October, 2009
A total of 363 MLS® listings were Sold in Burnaby, BC in the month of October: 107 detached houses & 256 condos, townhomes & duplexes.
Properties that sold in Burnaby, BC in October ranged from $184,000 for a 640 square foot, one bedroom condo built in 1975 to $1,700,000 for a 6 bed 5 baths, 4,600 sq/ft custom built home on a 60x128 lot.
Burnaby South - Burnaby North - Burnaby East
Condo 98 76 5
Avg. Days on Market 33 31 30
Avg. Sale price sq/ft $396 $376 $428
Townhome 20 22 12
Avg. Days on Market 41 26 24
Avg. Sale price sq/ft $390 $329 $329
½ Duplex 10 7 3
Avg. Days on Market 35 29 50
Avg. Sale price sq/ft $337 $337 $304
Detached House 42 46 18
Avg. Days on Market 33 31 40
Avg. Sale price sq/ft $300 $308 $312
Click here to view all of Ryan's Active Listings
For more information about real estate in Burnaby contact Ryan directly.
Downtown Vancouver, BC studio condo for sale - #603-1225 Richards St
View all of Ryan's Active Listings Here.
Located in the heart of the Downtown Vancouver core is 1225 Richards St ‘The Eden'. Read my blog about 'The Eden' and other great building for investment condos in Downtown Vancouver. Built by Bosa in 2003 ‘The Eden' is solid concrete construction with warranty in place.
Looking for information on investment condo's in Downtown Vancouver? Read my blog about keeping your costs down when purchasing.
Across the street from Emery Barnes Park and Choices market for groceries, 1225 Richards is within walking distance to everything Downtown Vancouver living offers.
The building has excellent facilities including a large exercise centre, swirl pool, steam room, yoga room, lounge with billiards table, mini kitchen and television. There are also 2 guest suites available for your visitors that are cheaper than a Vancouver hotel room.
Studio's currently for sale in Downtown Vancouver range from $212,900 for 400 square feet in a 23 year old building with parking to $399,900 for 455 square feet in a brand new 2009 building with parking. Parking is a valuable assest in Downtown Vancouver that is worth approximately $30,000.
This Downtown Vancouver studio apartment for sale has been owner occupied for the last 2 ½ years and is priced well in the Downtown Vancouver market.
Open House Saturday & Sunday, November 7th and 8th, 2009 from 2-4pm. Contact Ryan for information on this studio listing or any other Downtown Vancouver studio.
Consider these 3 buildings if you're looking to buy an investment condo in Downtown Vancouver, BC
When looking to buy investment condos in Downtown Vancouver there are many options for you to choose from. Studios, one bedrooms, two bedrooms even luxury suites that will sell for millions.
Most investors in Downtown Vancouver condos are simply looking to increase their equity over the long term while the rent covers the cost. Read my blog about successfully purchasing an investment condo Downtown Vancouver and keeping your costs down.
One key to successfully investing in a Downtown Vancouver condo is to buy into a good building. This blog is about 3 good buildings located very close to each other: 1155 Seymour St & 1199 Seymour St - Brava; 1188 Richards St - Park Plaza; 1225 Richards St - The Eden.
1155 Seymour St & 1199 Seymour St - Brava
1188 Richards St - Park Plaza
1225 Richards St - The Eden
All 3 of these Downtown Vancouver buildings are located across from Emery Barnes Park and many suites will offer views of the park.
If there was a studio apartment for sale in all three buildings the differences would as follows:
1188 Richards St will have the lowest purchase price, strata fee & yearly taxes of the three buildings. Insuite laundry and parking included in purchase price with most studio apartments. It is also the oldest being built in 1996.
1155 Seymour St & 1199 Seymour St are the newest of the three buildings being built in 2005 and consequently have the highest purchase price, strata fee and yearly taxes. Studio apartments have insuite laundry but no parking spot. Parking in Downtown Vancouver is worth $30,000.
1225 Richards St will have a high purchase price but reasonable strata fees and yearly taxes. Although older than the Brava buildings (2003 vs. 2005) The Eden studios are equipped with Whirlpool Gold gas ranges and appliances, insuite laundry, storage lockers and one parking stall.
If you are looking to buy a rental condo in Downtown Vancouver you can purchase any of these 3 buildings with confidence. All 3 offer a great location, solid construction and are equally popular with tenants.
Contact Ryan by Phone, Fax, Email or Text message for more information on these or any other Downtown Vancouver condo.
Buying an investment condo in Downtown Vancouver, BC - And keeping your costs down.
Purchasing an investment condo to rent out in Downtown Vancouver, BC is a way that many real estate investors are building equity. The idea is straight forward - buy a condo, rent it out, wait for the market to rise, sell and live happily ever after.
In order to achieve the happily ever after there is a fundamental ground rule to consider before you buy that Downtown Vancouver condo: keep your costs down.
The following factors should be considered before purchasing that Downtown Vancouver condo -
It goes without saying that you want to buy your Downtown Vancouver rental condo for the lowest possible price and that you also want the best interest rate available. In order to keep your costs to an absolute minimum you will want to avoid any CMHC mortgage insurance fees and this requires 20% down payment on the property.
- E.g. a purchase price of $300,000 would require $60,000 for 20%. This leaves you with a $240,000 mortgage to be serviced by your tenants -
The key to a successful Downtown Vancouver rental condo is to find popular rental buildings with high rent. Vancouver Craigslist is the best place to start. You can get an idea of what people are asking for rents and you can check out your competition. And it's free.
Often overlooked until you wonder where your extra cash is: monthly strata fee and taxes. Monthly strata fees are a fact of life for the Downtown Vancouver condo investor. This is why I like studios/bachelors with their smaller monthly fee. Unless this is your primary residence you won't qualify for the home owners grant from the BC Government.
The Property Transfer Tax is something that cannot be avoided in BC unless you are a First Time Home Buyer. You may qualify for the exemption if you are. If not, it's 1% on the 1st $200,000 and 2% on the balance. E.G. A $300,000 purchase price will cost you $4,000 in PTT.
Equally important to consider is the quality of the building that you purchase your Downtown Vancouver rental condo in. Is there potential for any assessments in the foreseeable future? A low purchase price isn't as attractive if there's a $15,000 assessment for re-piping 2 years after purchasing. Look for well built buildings that have excellent maintenance programs.
Ryan Windsor sells Condo's, Townhouses and Detached homes in Burnaby, New West & Vancouver. SOLD, with SAVINGS. Sell your home on the MLS® for 1% + $895 and $5,895 minimum. www.ryanwindsor.ca
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