Port Moody townhouse draws 14 offers

226 Balmoral Place, Port Moody, B.C. PORT MOODY

Asking price: $799,000 (Sept. 29) Selling price: $932,000 (Oct. 5) Previous selling prices: $315,000 (2013); $259,900 (2006); $146,000 (2002); $148,500 (1994) Monthly maintenance fee: $367.05 Days on market: six

Taxes: $2,543.62 (2021) Listing agents: Denny Dumas & Monica Harmse, Keller Williams Elite Realty

THE ACTION Forty-five parties viewed the property. The listing agents received 14 competitive offers and sold the home, subject-free, setting a record price for the complex. Six weeks later, the realtors sold another unit in the complex for $1,001,000. “These sales are a few of the major highlights that have put Port Moody real estate on the map in a major way in the last 24 months,” listing agent Monica Harmse said. The deal was completed on Dec. 2.

WHAT THEY GOT The 40-year-old split-level townhouse in central Port Moody had been totally renovated. The three-bedroom, 11⁄ 2- bathroom strata home was built in 1981 and has a spacious main room with modern white kitchen and a private outdoor patio and balcony with mountain views.

The unit has been painted and new windows and French doors have been installed, as well as quartz counters and white oak engineered hardwood floors. The 1,306-square-foot townhouse is steps to the SkyTrain, West Coast Express commuter train and shops.

THE AGENT’S TAKE The complex is set to undergo redevelopment at some point. The owners have accepted a developer’s offer, but the rezoning process will take several years.

“For a buyer, it’s a guaranteed pay day at some point in the future,” listing agent Denny Dumas said. “It could be a year or another 10 years, but the owners will make more than the unit is worth today.”