How much space do you need?
Measuring in at 381sqft, this East Vancouver condo is currently the smallest studio listed for sale in Vancouver on REW.
To give a comparison for size, the cute condo is about two-and-a-half times as big as a parking space or one-tenth as big as an IMAX screen.
The petite studio, at 305-4950 Mcgeer Street, Collingwood, is priced at $299,900. With a 20 per cent deposit of $59,980 that would work out to payments of about $1,099 a month over a 25-year loan with a 2.69 per cent interest rate. Maintenance fees are currently $167 a month.
If you’re willing to sacrifice space to own your own property, the price isn’t too bad when compared to a recent report by Padmapper.ca highlighting that the average cost to rent a one-bedroom apartment in Vancouver is now a whopping $2,150 a month.
While it’s quaint, the studio has a den separated from the living space, offering a private sleeping area and a separate bathroom. The building is 28 years old, but the kitchen and bathroom appear to have been updated and look fresh and clean with neutral colours. The property also comes with a parking bay and a storage locker.
The "excellent starter home" is located on a quiet residential street close to the Joyce SkyTrain Station (Expo Line) and major bus routes.
Condo sizes have been gradually shrinking in Vancouver for many years now. But this condo, in particular, is only half the size of an average condo in the city.
An analysis of Statistics Canada data by real estate blog Better Dwelling last year found that the median size of a Metro Vancouver condo built from 2016 to 2017 was 769 sqft. That is down 3.5 per cent from those built from 2011 to 2015, and 16 per cent smaller than the median of condo sizes built between 1971 and 1990.
In comparison to this listing, there are two-bedroom, two-bathroom condos more than double the size for around the same price for sale in Renfrew Heights right now.
Those interested in taking a look can see the condo at 305-4950 Mcgeer Street at an open house Sunday, Feb. 23 from 2 p.m. to 4 p.m.
Take a look at some more photos of the condo:
—With files from Elana Shepert and Joannah Connolly