Property type: Strata windup
Location: 1039 West 13th Street, Vancouver
Type of sale: Court ordered
Current position: Building sale approved, with 80 per cent of owners agreeing to purchase. Rather than wait for appeal decision, buyer purchased 5 of the 6 units directly from owners.
Issue: City issued work orders to repair structure, which were not done. Water egress also noted. Repairs cost estimated at more than $1.6 million.
Potential: Demolition and mixed-use redevelopment close to Broadway Subway Skytrain.
Lot size: 6,247 square feet.
Sale price per unit: $550,000 (approx)
Total sale price: $2.75 million (for 5 of 6 units)
Brokerage: Goodman Commercial, Vancouver
Brokers: Mark Goodman and Cynthia Jagger
Broker comment: A "very complicated" transaction
