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$549,900

1604 10523 UNIVERSITY DRIVE

Surrey · MLS® R3127524

All units at 10523 University Dr →

2 bed · 2 bath · 1,002 sq ft · 2 parking

Condo · Single Family · built 1996 · 137 days on market

Listed by Gurinder Cheema, RE/MAX Performance Realty

Realtor's description

Top floor Penthouse Corner unit with incredible views of city & mountain. You will love this home, featuring 13' high ceiling living & dining room, Spacious 2 bedrooms, 2 bathrooms, floor to ceiling high windows, plenty of natural light. It's situated on quiet side of building with huge balcony, ideal for your summer BBQ, Concrete, fully-rainscreened building with new piping, 2 side by side parking, huge storage locker, bike room, fitness room with sauna/steam room, safe & peaceful neighbourhood, onsite caretaker & well run strata. Incredible location, bus-stop right outside, few minutes walk to SKYTRAIN, Surrey Central shopping, SFU campus, hospital, Surrey Police headquarters, City Hall, library, schools, parks and so much more.

Property details

Type: Condo, Single Family
Bedrooms: 2
Bathrooms: 2
Living area: 1,002 sq ft
Parking: 2
Year built: 1996
Property tax: $2,517 / yr
Strata fee: $453 / mo ($0.45 / sq ft)
Strata rules: Pets Allowed With Restrictions, Rentals Allowed
Days on market: 137
MLS®: R3127524

Buying in a building from 1982 to 2000: what to read first

Features

Pets Allowed With Restrictions
Rentals Allowed
Washer
Refrigerator
Dishwasher
Stove

Price check

Below typical for the area (-18%)

2026 assessment: $567,000 · asking is -3.0%
Price per sq ft: $549 vs $673 median for condos in Surrey for sale (986)

An estimate from public BC Assessment records, registered sales and the listings for sale right now, not an appraisal. Condition, renovations, views and lot all move real value.

Property insights

On market 137 days · no price changes so far

The market here

Listed now: 60 days; median for 1053 condos for sale; this one 137 days

Condos in Surrey. Sale prices register 1 to 3 months after a sale closes.

Property tax by year

Year	Assessed	Est. tax
2026	$567,000	$1,943

The listing shows $2,517 a year in property tax.

Estimate: the BC Assessment value times Surrey's residential tax rate for that year (Province of BC, local government statistics). Leaves out the home owner grant, parcel taxes and utility charges; the city's tax notice is the real figure.

Monthly cost

$3,059/mo

Mortgage $2,396 · Tax $210 · Strata $453

20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.

estimated payment

$2,396/ monthly

loan $439,920

25-year amortization

down payment20% · $109,98020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 9, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $278,838
property transfer tax: $8,998; BC general rate
cash to close: $118,978; down + PTT
total paid: $718,758

Estimates only. Rates change daily and lenders qualify at the stress-test rate; first-time-buyer and newly-built PTT exemptions aren't applied. Talk to a mortgage broker before you offer.

If you rented it out

Rent: $1,872/mo
After all costs: −$1,372/mo
Cap rate: 2.2%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,396 · tax $210 · strata $453 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 2-bedroom in Surrey (CMHC Rental Market Survey, October 2025). Averages include long-time tenants, so new leases usually ask more; houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

BC rules for landlords

Short-term rentals are limited to the host's principal residence in most communities. gov.bc.ca
Rent increases are capped once a year at the province's set amount. gov.bc.ca
The speculation and vacancy tax applies in many areas to homes not lived in or rented out. gov.bc.ca
Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca

Location

The building's lot: 6,446 m² (69,384 sq ft) · PID 018-936-016. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

SurreyGoogle Maps ↗

Location

SurreyGoogle Maps ↗

Schools

Catchment schools, Surrey School District 36

Elementary K.B. Woodward Elementaryhomes in this catchment
600 m away · 13130 106 Ave, Surrey · 604-588-5918
Secondary Kwantlen Park Secondaryhomes in this catchment
400 m away · 10441 132 St, Surrey · 604-588-6934

From the Surrey School District 36's published catchment maps. A catchment gives priority, not a guaranteed seat, and French immersion and choice programs work differently. The district confirms catchment: check with its school locator.

Development nearby

Rezoning for 730 homes
180 m away · 2025 · conditionally approved
Rezoning from Multiple Residential 45 Zone (RM-45) to Comprehensive Development Zone (CD) (based on Multiple Residential Commercial 135 Zone RMC-135); Subdivision from one (1) lot into three (3) lots; Official Community Plan (OCP) Amendment of Figure 16: Downtown Densities from 3.5 FAR to 5.5 FAR; Neighbourhood Concept Plan (NCP) Amendment to the City Centre Plan from Mid to High Rise Residential
Rezoning for 705 homes
210 m away · 2024 · conditionally approved
Rezoning from Multiple Residential 45 Zone (RM-45) to Comprehensive Development Zone (CD) (based on RM-135 and C-15); Subdivision from four (4) lots into eight (8) lots; Official Community Plan (OCP) Amendment to add the western portion of the site to Figure 16 as Downtown (3.5 FAR) and to amend Figure 16: Downtown Densities for the eastern portion of the site from 3.5 to 5.5 FAR. City Centre Plan
Rezoning for a 35 storey, 561 unit building
280 m away · 2023 · conditionally approved
Rezoning from Multiple Residential 45 Zone (RM-45) to Comprehensive Development Zone (CD) (based on Multiple Residential Commercial 135 Zone (RM-135); Subdivision from one (1) into two (2) lots; Official Community Plan (OCP) Amendment from Multiple Residential to Downtown and to Figure 16: Downtown Densities to permit a density of 5.5 FAR; Neighbourhood Concept Plan (NCP) Amendment to the City Cen
Rezoning for a 44 storey, 424 unit building
390 m away · 2023 · conditionally approved
Rezoning from Single Family Residential Zone (RF) to Comprehensive Development Zone (CD) (based on Multiple Residential 135 Zone (RM-135) and Community Commercial Zone (C-8); Subdivision (Consolidation) from three (3) to one (1) lot; Official Community Plan (OCP) Amendment to Downtown Densities from 5.5 FAR to 7.5 FAR; Official Community Plan Text Amendment to allow for a density of 9.9 FAR within
Development permit for a 52 storey building
340 m away · 2023 · concluded
Development Permit / Development Variance Permit and Housing Agreement to permit the development of Phase 2 of a mixed-use project consisting of one 52-storey mixed-use tower and one 2-storey stand-alone commercial building.

And 3 smaller applications nearby.

Applications filed with the city, active or decided in the last 3 years, measured from the listing's map pin. An application isn't an approval; the city's page has the current details. Source: City of Surrey development applications.

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