Teardown #1: Helene’s House at Braemar Park

Helene’s house.       827 W. 26th Ave.            My youngest daughter, Sophie, desperately wanted to live in this house. She called it ‘the farmhouse,’ and had dreams of swinging in a hammock in the sunny back yard. The house sits smack in the middle of a 66 x125 ft. lot at 827 West 26th Avenue in Vancouver. It has a lovely yard; perfect for entertaining on a summer evening.  It is  grandfathered at 8 ft higher than the current Vancouver height limit, with views of the North Shore Mountains from balconies on all three levels.  It has a total floor area sq ft of 3878 on four levels including a high basement.  The house fronts onto Braemar Park, a lovely, two block square park with huge oak trees bordering three sides.

Helene’s house sold in six days, as a tear down, for $2.6 million, which is $700,000 over the 2012 assessed value.  Why? The 66 ft frontage is actually two 33 ft legal lots.  A builder’s dream.  Two brand new 2700 sq ft houses, with secondary suites, and laneway homes should sell for $2,888,000 M each. Tear down one old, build two new.

Should this house be torn down? Probably not.  The house is split into three suites and needs a major renovation inside, but otherwise it really is a stand-out house in a stand-out location.  It is a shame to lose it for what will be two new spec homes crowded onto two 33ft lots.  Houses like those can be built anywhere in Vancouver.

MLS# V931939  List: $2,799,000. Sold: $2,600,000. February 18, 2012.                        2011 Assessed: $1,503,600.  2012 Assessed: $1,904,100.