VANCOUVER, CANADA (RNN) – Buying a home is quickly becoming unaffordable for the average person working a 40-hour week and this is a perfect example.
A burned-out Vancouver lot is selling for almost $4 million Canadian dollars.
That may seem like a ton of money but its Canadian money right?
The lot on 2573 West 3rd Ave. still costs $3.07 million U.S. and is billed as a "rare development opportunity."
The reason, the lot is zoned for up to four town houses, which can bring millions to an investors pocket.
The property was reportedly the site of a 90-year-old house, according to CTV News Vancouver.
The news quickly became a trending topic on Twitter.
"It has good bones..."
... unfortunately, they're in a big pile in the middle of the lot.
This Vancouver charmer can be yours for just $4 million. https://t.co/TIB7M8Cnnw
— Mark Towhey (@towhey) August 21, 2018
Open air concept ??
— --Mikey-- (@vancitymichael) August 20, 2018
One added note: property tax on the lot is $10,000. If you can afford a $4 million then that should be no problem.
The average cost of a house in Vancouver is $1,094,000 according to a July 3, article. The median price for a home in San Francisco is also above $1 million.
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