Big Fat Deal: A $12-million teardown? Only in Vancouver

Each week, BCBusiness takes you inside one of the most outrageously upmarket real estate offerings in the province

Address: 4572 West 2nd Ave
Price: $11,988,000
MLS: V1125903
The skinny: A four-bedroom, three-bathroom, 1940-built home on a large lot with city, sea and mountain views, but—at this price, at least—with less curb appeal and more kick-to-the-curb-and-start-again appeal.
The bling: It’s the magic formula in spades: location, location, location. Oh, and did we mention that huge lot? High enough to offer spectacular views across English Bay, and north enough to mean an easy walk to the beach. The property is also in catchment for Queen Mary and Lord Byng schools and, of course, only a hop, skip and a jump from the swanky West Point Grey Academy. Even better, this modest home, loved by the same family for 53 years, has prime high-end makeover—a.k.a. teardown—potential. Keep up with this tony West Side ‘hood and build something befitting the price tag. No one spends $12 million on a house, and stumps up $21,000 a year on taxes, to hide their wealth under a “classic old timer”. Think big. Think bold. Think bling!
The hidden extras: A beautifully tended garden that can be enjoyed by the neighbours, too, as they have thoughtfully built their new homes high and wide on their own huge lots. This construction largesse also gives you the opportunity to show off your best light fittings all-day long, as your front windows are helpfully shaded from all directions.