Daily Buzz

Mansion on Canada’s most expensive lot has ‘no value’

Canada's most expensive house can be yours, complete with an ocean view and a worthless mansion, but it will set you back $38 million, according to the real estate listing.

The mansion at 3810 Marine Drive in Vancouver was originally listed at $30 million but it didn't sell, according to the Vancouver Sun. Now, the Sun reports its new list price makes the property, built in 1964, the most expensive for sale in the country.

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The lot boasts a spectacular view of the Georgia Strait, which sounds nice, except that the real estate agent says the house is worthless.

"There's no value in the house," Laura McLaren told the Vancouver Sun. "The house is very, very dated, very old. It has not been upgraded."

To put it another way, the Daily Mail chose to describe the house as 'gaudy.'

"The 5,500 square feet mansion is described as a suburban waterfront palace but in reality look more like something from the land that taste forgot [sic]," the Mail wrote.

The eye-popping price tag is a result of the value of the property, not the house, the agent said. Or maybe it's because Vancouver's housing market is bonkers.

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The listing for 3810 Marine Drive says the buyer could divide the property into 3 lots, each with its own mansion, pool and garages.

Bring in a demolition crew; this palace is getting the wrecking ball.

Canada's most expensive residence is on the market for $37.9 million on Marine Drive in West Vancouver.
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| Photo By Lauramclaren.ca / Lauramclaren.ca
Wed, 20 Feb, 2013 10:00 AM EST