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40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East) : MLS(r) # R2098196

Posted by Aedis Realty on June 29, 2017
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Sunset on the Fraser River

The Neighbourhood

Sunset 1An ethnically diverse neighbourhood within Ontario Street on the west and Knight Street on the east, Sunset extends from 41st Avenue south to the Fraser River in southeastern Vancouver, British Columbia. Like most of southeast Vancouver, the area was once mostly working class, but rising prices everywhere have made the area increasingly popular with young professionals and families no longer able to afford houses on the west side.

Background

Formerly part of the incorporated District of South Vancouver, the neighbourhood became part of Vancouver in 1929. As farmland sloping southward to the river with clusters of homes and villages by the 1860s, when the Fraser River was a full day’s journey to the Granville Townsite on the Burrard Inlet by boat or overland through forest and swamp, Sunset welcomed the advance of Westminster Avenue, now Main Street, south from Mount Pleasant in 1910.

The first immigrants from Punjab arrived in Vancouver in the 1890s. Most of them settled in the area around Main Street and 49th Avenue, and many established restaurants and businesses there. Over the years the Sunset neighbourhood has become for Vancouver’s estimated 160,000 South Asian residents a central assembly point of culture and commerce.

The number of Punjabi speakers increased steadily for decades. It is now the most common language in Sunset. More than one in four, 26 per cent of the Sunset population, in 2006 spoke Punjabi as their first language compared to less than three per cent of the general city population, 21 percent spoke Chinese, and 24 percent English. Businesses, restaurants, and services catering to these communities proliferated along Fraser and Main streets; prominent among them was the Punjabi Market.

Sunset 2Information Links:

http://southhillbia.ca
http://vancouver.ca/green-vancouver/sunset.aspx
http://www.mysunset.net

The Punjabi Market

The Punjabi Market is a commercial district and ethnic enclave in a roughly six-block section around Main Street and 49th Avenue. Vancouver is home to more than 200,000 people of Indian and Pakistani descent, nowhere more vibrant than at the Punjabi Market, a world of glittering bangles, flowing saris, and rich curry aromas. The neighbourhood gives visitors a glimpse of South Asian culture on Canada’s Pacific Coast. Shops sell fine silk saris in a rainbow of bright colors and elaborate gowns with thousands of tiny inlaid gems. Bhangra music from Bollywood films pumps out of storefronts. Fine jewelers offer exquisite gold rings, bracelets, and necklaces. In April, the Punjabi Market celebrates Vaisakhi Day, the Sikh New Year, with a colorful parade through the streets attracting thousands of spectators.

Vancouver’s Punjabi Market has been a city fixture for decades, but the 2013 municipal Assessment Roll Report finds the area in financial trouble: “Values here are down about 15 percent as the regional [Indo-Canadian] retail hub continues to shift towards Surrey.” Even Tourism Vancouver says the Punjabi Market is struggling. Once famous for many jewelry stores, the Punjabi Market now displays lots of empty space for lease. Elsewhere across the city, retail property value assessments rise but decline here as businesses relocate to Surrey.

The Punjabi Market Association says the district needs some help from the city, province, and federal governments if it’s going to survive. The Surrey Board of Trade says its city offers lower rents and taxes than does Vancouver.

New Sunset Live MLS Listings

40 E 48TH Avenue
Main Vancouver V5W 2C6

$5,200,000
Residential Detached beds: 4 baths: 6.0 4,244 sq. ft. built: 2015

Exterior Front
Prop. Type:
Residential Detached
MLS® Num:
R2098196
Status:
Active
Bedrooms:
4
Bathrooms:
6
Year Built:
2015
Very high end home, must see to appreciate. No mdf used in the house, everything is wood. Central location close to transit, shopping, schools & restaurants. Rough in available to construct a second kitchen on main floor. Great to hold as an investment, owner willing to rent back. 750 sq ft lane way house with a two car garage in the rear.
Property Type:
Residential Detached
Dwelling Type:
House/Single Family
Home Style:
Year built:
2015 (Age: 2)
Total area:
4,244 sq. ft.
Total Floor Area:
4,244 sq. ft.
Price Per SqFt:
$1,225.26
Total unfinished area:
0 sq. ft.
Main Floor Area:
1,475 sq. ft.
Floor Area Above Main:
1,294 sq. ft.
Floor Area Below Main:
1,475 sq. ft.
Basement Area:
0 sq. ft.
Finished Levels:
3.0
Rainscreen:
Bedrooms:
4 (Above Grd: 4)
Bathrooms:
6.0 (Full:5/Half:1)
Kitchens:
1
Rooms:
16
Taxes:
$10,418.54 / 2016
Lot Area:
6,831 sq. ft.
Lot Frontage:
49'6"
Lot Depth:
138'
Rear Yard Exposure:
Outdoor Area:
Fenced Yard
Water Supply:
Plan:
VAP1748
Heating:
Construction:
Foundation:
Basement:
Full, Fully Finished, Separate Entry
Full Height:
9'
Roof:
Floor Finish:
Fireplaces:
2
Fireplace Details:
Gas - Natural
Parking:
Parking Total/Covered:
2 / 2
Parking Access:
Exterior Finish:
Title to Land:
Freehold NonStrata
Flood Plain:
No
Suite:
Floor
Ensuite
Pieces
Other
Above
Above
Above
Main
Bsmt
Bsmt
Air Conditioning, Clothes Washer/Dryer/Fridge/Stove/DW
Central Location, Lane Access, Paved Road, Private Yard, Recreation Nearby, Shopping Nearby
Air Cond./Central
PL VAP1748 LT 26 BLK 8 DL 648 LD 36
Dist to Public Trans:
Property Disclosure:
Fixtures Leased:
Fixtures Removed:
Services Connected:
Community, Electricity, Natural Gas, Sanitary Sewer, Storm Sewer, Water
Listed Date:
Previous Price:
Original Price:
  • Photo 1: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Exterior Front
  • Photo 2: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Exterior Front
  • Photo 3: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Exterior Front
  • Photo 4: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Garage
  • Photo 5: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Exterior Back
  • Photo 6: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Garden
  • Photo 7: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Garden
  • Photo 8: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Exterior Front
  • Photo 9: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Living Room
  • Photo 10: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Dining Room
  • Photo 11: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Kitchen
  • Photo 12: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Family Room
  • Photo 13: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Dining Room
  • Photo 14: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Master Bedroom
  • Photo 15: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Bedroom
  • Photo 16: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Photo 16 of 20
  • Photo 17: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Entrance Hall
  • Photo 18: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Bathroom
  • Photo 19: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Entrance Hall
  • Photo 20: 40 E 48TH Avenue in Vancouver: Main House for sale (Vancouver East)  : MLS(r) # R2098196
    Garage
Amex Broadway West Realty
Listing information last updated on 6-Aug-2016 4:10 PM
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