Unique Vancouver Home Listed Below Market Value with Vintage Cadillac

A century-old home in Vancouver’s Kitsilano neighbourhood has been listed for sale at a price below its assessed value. The property located at 3056 W. 6th Avenue is available for $2,999,000, slightly lower than the $3,015,000 valuation provided by BC Assessment. This four-bedroom, three-bathroom residence, built in 1926, occupies a nearly 6,000 square foot lot and offers more than 2,600 square feet of living space.

The real estate firm Engel & Volkers Vancouver emphasizes the flexibility of the property, suggesting options for renovation, new construction, or multi-unit development under RT-7 zoning. The listing highlights the potential for both duplex and multiplex arrangements, catering to a range of future plans.

One of the property’s most distinctive features is a vintage 1960 Cadillac Coupe de Ville, which has been placed in the front yard, attracting the attention of passersby. Although the vehicle’s dark green exterior has faded, revealing the original pink and red colors beneath, it adds a quirky charm to the property. The Cadillac also displays a Washington license plate, further enhancing its character.

Engel & Volkers Vancouver describes the lot as situated in a “quiet, walkable location” near parks, schools, shops, and transit options. The firm noted that Kitsilano is experiencing a significant wave of new development, which reinforces its reputation as one of Vancouver’s most desirable neighborhoods.

The property has a rich history, as it was last sold in March 1993 for $495,000. Over the past four years, it has experienced fluctuations in market value, reaching a low of $2.96 million in 2022 and peaking at $3.26 million in 2024.

Recent figures from BC Assessment indicate a general decline in residential real estate values across the Lower Mainland, which includes Metro Vancouver and the Fraser Valley. The latest assessment, reflecting market values as of July 1, 2025, was issued to approximately 1.14 million property owners in the region. The overall assessed property value in the Lower Mainland has decreased to about $1.92 trillion, down approximately five percent from $2.01 trillion in 2025.

Despite this downturn, increased new construction, rezoning, and subdivision activities added roughly $24 billion in value, somewhat mitigating the broader decline in the housing market.

For those looking to invest in real estate in Vancouver, this property presents a unique opportunity, combining historical charm with versatile development potential.