Here is an unfinished apartment in my city. It’s huge, about 1600 sqft and you get a deck of about the same size. It’s 4 bedrooms.
It’s such a good price and it’s right near the heart of downtown, but I can’t really figure out why it won’t sell. It’s been on the mls listings forever, but no biters apparently.
I don’t think it’s because you have to spend about $150,000 finishing it because, even including the cost of finishing it, it’s still a very good price imo.
The only thing that occurs to me without knowing anything about it is that people may have a problem with the noise the HVAC units might give off. Other than that, I can’t see why nobody is biting it, but the fact that they aren’t biting is a warning in itself.
https://www.realtor.ca/real-estate/26695690/601-10518-113-st-nw-edmonton-queen-mary-park
$375K for 1600 sq ft and looks as cold and sterile as a corporate conference room. Makes me grateful for what I have. :-)
I don’t understand how there can be four bedrooms in 1600 sq. ft.
Regarding the unsold 4 bedroom apartment ....
People do not want to pay premium for something they have to finish and put more cash into
It’s ugly. Looks like an office. No warmth. Pics taken in winter make it look like prison in Siberia. And it’s all gray?? depressing AF. The view is nothing to put on a postcard.
There is a $765 a MONTH maintenance fee
The bathrooms are gross and cheap and need to be started over from scratch
At 1600 square feet with one main living area you’ve got a studio apartment with one decent sized bedroom, one kid room, one walk in closet, and a pantry. What single is going to want to live there, what family is going to want to live there? Any childless couple will be looking for something more attractive for that money with a lot less work.
My advice to the seller is suck it up and finish the job. Hire a decorator.