Pacific Point – Refurbished Condos at 1323 Homer St,
Yaletown, Vancouver BC
I just sold a home at Pacific Point to a very discerning client of mine… who has become a good friend because we spent quite a bit of time together looking for the right home. If it was good enough for this savvy investor maybe you should take a look!
The Pacific Point condo Development located at 1323 Homer St
in Yaletown was originally built in 1992 and was held as a rental building.
Bosa recently acquired the building and is in the final steps of refurbishing
the units, and they will be ready for occupancy in May 2013 (roughly). Not only
are all of the units completely redone on the inside with European cabinetry,
wide plank laminate floors and high end stainless steel appliances… the
building itself has had a major over-hall. With work on the exterior, plumbing,
electrical, and a facelift of all of the common areas this building is like new.
The roof is original… but that is still covered under the 2-5-10 year warranty
that has been provided by Bosa which is the same warranty coverage a brand new
home buyer would get.
One thing that you will not get that new home buyers get is an extra tax bill. All though like new… as far as CRA is concerned HST, GST or transitional tax is not payable on this property.
The home my client bought was a 735 sq ft one bedroom and den that comes with parking, storage and had a nice North Eastern exposure for $425,000. The den, bedroom and living areas are all quite spacious with these units as the were designed in the early 90's... when things were bigger!
According to the latest email there is a decent supply of remaining inventory
1 Bedroom & Den 730sqft + Starting from $409,900
Jr. 2 Bedroom & Den 925sqft + Starting from $499,900
2 Bedroom & Den 1075sqft + Starting from $609,900
With a lot of
uncertainty surrounding the required depreciation reports that are becoming due
at the end of this year I am happy to see my client purchase in a well
protected and documented building.
I would be happy to share my additional knowledge of this project, and show you the available remaining inventory.
If you would like more info on this project or any other Vancouver Real Estate do not hesitate to contact me at any time!
Pete Shpak, BCom, Associate Broker