$1.7M East Van House Sells for $825K at Tax Auction—But the 'Catch' Changes Everything

At Vancouver’s annual tax sale held Wednesday at city hall, a dilapidated house at 4750 Windsor Street in East Vancouver sold for $825,000—less than half its B.C. Assessment value of over $1.7 million. The property’s yard is overgrown, its shingles are weathered, and the back stairs have disintegrated, yet it still carried a reserve, or upset price, of just $72,051, representing the unpaid taxes owed to the city. It was one of more than 60 properties auctioned after owners failed to pay taxes for three consecutive years. Nearby on Point Grey Road, two side-by-side homes assessed around $5 million and $6 million sold for $2 million and $2.75 million respectively, steps from Jericho Beach and just blocks from some of the most expensive residential real estate in the province.