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Point Grey home sells for $1 million over its asking price

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A four-bedroom home in Point Grey, with a stunning view of downtown Vancouver and the North Shore mountains, has sold for $1.17 million above its asking price after just two days on the market.

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The 88-year-old home at 4655 Bellevue Drive sold for just over $9 million. The seller, James Graham, who was acting as the administrator of his late father’s estate, listed the home at $7.888 million after gaining title of the house on Wednesday.

The home was last purchased in 1986 for $498,000. It had recently been assessed at $6.43 million.

“It was the first time in market place in 30 years and where this house is situated you get the view from Vancouver downtown all the way to Horseshoe Bay,” said Bo Park of Sutton West Coast Realty, the realtor who sold the house. “This is the best view from a detached residential home that I have ever seen.”

Back of house

Google Maps view of the back of 4655 Bellevue Drive.

Along with its panoramic view, the 4,060-square foot house boasts an indoor swimming pool and hot tub, wine cellar, two balconies and a workshop. It sits on a 7,150-square foot lot.

The buyers, according to Park, are a young Vancouver couple with two children.

“They live in the area and they’d been shopping around for over a year to find that right property,” she said. “This just happened to be what they were looking for and they were willing to pay the price.”

That price, to be exact, was $9.06 million.

Although selling a house for more than $1 million above the asking price seems staggering, it’s nowhere close to a Vancouver real estate record.

In February 2015, a Shaughnessy home, at 1383 West 32nd Avenue, sold for $8.01 million, which was more than $2 million above its asking price of $5.99 million and $2.9 over its assessment value.

Park says she received 11 offers on the Point Grey home, all were in cash with no conditions attached.
Bellevue blueprint

It’s not known if the buyers intend to tear down the house and rebuild on the lot, but Park’s original listing states “this is your unique opportunity to create and build your dream home.”

sbrown@vancouversun.com

Twitter.com/Browniescott

 

 


Filed under: Now, STAFF Tagged: Google Maps, Point Grey, Sutton Westcoast Realty, Vancouver, Vancouver real estate

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