If you are looking for a solution to Vancouver's increasingly expensive real estate, there is one listing that features a waterfront view and lots of space, all for less than $300,000. 

The $299,000 residence listed as 151 Water Street is a 155 foot former naval vessel that has been converted into a live aboard.

The M. V. Edgewater Fortune was built in Victoria in 1954 for the Royal Canadian Navy and has quite the history as an anti-magnetic minesweeper.

The vessel was on active duty until 1964 when it was decommissioned. Apparently it was in Cuba in the early 1960's, around the time of the Cuban missile crises. In the early 1970s it was used by Green Peace during protests to Alaska, and for many years it also served as a fishing vessel taking tourists up the coast.

The current owners have renovated the ship and carved out a new kitchen and living area, including a bedroom & bathroom, but many areas of the ship have remained untouched. It has great potential with a lot of space.

It has more than 4,000 square feet to work with, and in its current state, the vessel could easily sleep up to 25 people.

While the price tag may seem affordable, this listing comes with its own set of challenges. It is not easy to get financing to purchase a vessel like this due to its age and the fact that is has a wooden hull, and finding moorgage is difficult. The location where the vessel is currently docked does not allow live aboards, so it would have to be moved. Finding a marina with the space to take a vessel this large could be challenge, and if you did the moorage could run upwards of $50,000 a year.  Yes, it may be a reasonable listing price, but not a cheap prospect.  Any takers??