As I was scrolling through new listings today, I noticed two 2-bedroom condos in Mount Pleasant that were quite similar, but also very different, and both were listed for the same price.
Both units are 2 bedroom, about 875sqft, in a great location, with parking and storage. One building is older while the other building is quite a bit newer. If you ask me, especially when considering long term value, the newer unit is the better option. However, the older unit has the chance to add value via a modern renovation. There are other factors to consider, including whether or not the newer unit will lose it’s view, the quality of each building and potential for special levies in the near future, and the ability to rent.
More details are below…
#202 2621 Quebec St: Two Bedroom Condo in an Older Building
|Living Area||875 sq.ft.|
|Bathrooms||1 full, 1 half|
This unit in 2621 Quebec St has been updated, but it could still use some modern renovations (if the Buyer desires). One bonus on this unit is that it comes with 2 parking stalls and a storage locker.
2621 Quebec St sits West of Main St at E 10th Ave. The building is a 1992 build that has been partially rainscreened, with various maintenance projects over the years including a recent new roof and exterior paint. The building doesn’t have any particular amenities. Pets are restricted to 2 and rentals are restricted to 2 as well (which are currently at max). The building has completed a Depreciation Report, though given it’s age, I would expect maintenance to be needed in some manor over the next few years.
Realtor’s Remarks: Best hidden gem in the heart of SOMA! Positioned on the North East & West corner with City & Mountain views, this 2 bdrm unit is filled with natural light coming through windows on all 3 sides! An entertainer’s delight with its well appointed modern kitchen opening onto a large dining area & a very roomy living room with gas fireplace & balcony perfect for BBQing (bring your house sized furniture). Spacious master bdrm with its own 2pce ensuite, and a 2nd guest bdrm with access to a large balcony. Both bedrms are set away for utmost privacy. Bonus: 2 parking! In-suite laundry, lots of in-suite storage, separate storage locker and pet friendly, all in a very well cared building with depreciation report, roof (2010) & exterior paint (2012).
For more information and photos: #202 2621 Quebec St
#508 251 E 7th Ave: Two Bedroom Condo in a Newer Building
|Living Area||878 sq.ft.|
This 2 bed, 2 bath unit is in District at 251 E 7th Ave. This building was built in 2012, and still has the remainder of it’s standard 2-5-10 warranty and at only 3 years old, it has new/modern features and finishings. The unit comes with parking and a storage locker. Pets and rentals are allowed without restriction.
The unit has an open kitchen, dining and living room, with two bedrooms and two full bathrooms (on opposite side of the unit), a den and in suite laundry. The unit has no wasted space in hallways or stairs, with lots of room for storage in the den.
The building has a gym, roof top patios, gardens and bike storage. District sits just east of Main St, on East 7th Ave putting you close to the breweries, restaurants and shops on Main St, a few blocks down from the Main St Skytrain, and close to an area that will see a few more new developments in the next few years.
Realtor’s Remarks: Rarely available 2 bed + den at the District! The most sought after 2 bedroom floor plan in the building, featuring 2 spacious bedrooms on opposing sides of home, large den, 2 full baths and a generous, open concept dining & living room. Custom cabinets in kitchen and den, + built in desk by California Closets add ample storage and functionality to the already great layout. Building amenities include fitness centre, 2 rooftop terraces, garden plots, and bike storage. Parking + Storage included.
For more information and photos: #508 251 E 7th Ave