Asking price falls for Vancouver’s famous ‘Painted Ladies’ heritage homes

Vancouver's 'Painted Ladies' at 140, 144, 148, and 150 West 10th Avenue in Mount Pleasant. (Courtesy: Goodman Commercial)

A string of colourful homes that earned a Mount Pleasant block the title of ‘most beautiful’ in Vancouver are still on the market, one month after being listed for sale.

The ‘Painted Ladies’, four detached homes sitting shoulder to shoulder on leafy West 10th Avenue, have had their asking price decreased from $10 million to $9.5 million.

Formally recognized by the Vancouver Heritage Register, all four were originally built in the early 1900s and have been restored to their original styles from the Edwardian and Victorian periods.

Each vibrant in their individual jewel tones, the maintained properties have garnered the nickname ‘The Painted Ladies’ in a nod to San Francisco’s famous ‘Postcard Row’ of vibrant houses.

Realtor and Principal of Goodman Commercial Mark Goodman says there has been much interest throughout the past month, primarily from local, private investors that are familiar with multifamily investments, yet the price was reduced in the hopes even more offers would be made.

“It’s a unique property, and a lot of people appreciate how distinct it is in the city,” he says.

The owner of all four, who declined an interview for this story, had been ready to pass the baton on after spending over 50 years painstakingly restoring each home, says Goodman.

“They’ve put a lot of their heart and soul into the properties, but everybody’s time comes to an end, and they’ve made a decision that they’re ready to move on,” he says.

Despite the “awful narrative” that surrounds landlords, Goodman said he works with homeowners who take care of their buildings and their tenants more often than those who are concerned chiefly with their own profits. The family who owned 140, 144, 148, and 150 West 10th Avenue took this level of care “to the next level,” he says.

“This was a passion project, and there was a pride of ownership here,” says Goodman.

When he first walked through one of the meticulously restored homes, Goodman recalls he had turned to the owner and said, “I literally feel like I’m walking through a museum.” Unique finds that added whimsy and character were found in each corner. The owner had relayed stories to Goodman of perusing flea markets and antique shops for pieces that were worthy of the homes’ history and iconic exterior.

“He would find an old door from the 1900s and incorporate that into his place. There are some old, neon signs that really make it unique” he says.

“What he’s been doing all these years, in my mind, is making a museum that you can live in. It’s just beautiful.”

As for the concerns that have been voiced online regarding new owners turning the multi-home property—split into 15 rental units and one furnished laneway cottage—into flashy new apartments, Goodman assures that the houses’ heritage status will ensure their safety from bulldozers.

There is potential for infill development on site, which would likely involve the movement of the buildings, but they “can’t be torn down or demolished,” he says.