Condo
$709,000
506 1166 MELVILLE STREET
Vancouverlisted today
MLS® R3174229
1 / 15
1 bed · 1 bath · 560 sq ft
Condo · Single Family · built 2021 · 17 days on market
Listed by Wei Du, Royal Pacific Realty Corp.
Realtor's description
A rare opportunity to own at The Pacific by Grosvenor at an exceptional new price! This elegant 1-bedroom residence offers an outstanding combination of luxury, location and value in the heart of Downtown Vancouver. Enjoy beautiful water and city views, an open-concept layout, custom Italian Snaidero millwork, premium Sub-Zero, Wolf and Miele appliances, and a spacious 94 sq.ft. balcony. Residents enjoy 24-hour concierge, fitness centre, lounge and a beautifully landscaped outdoor terrace. Currently rented at $2,915/month to a long-term, reliable tenant who would love to stay, providing immediate and stable rental income for investors. Proposed viewing time of Wed. -6pm, Thur. -2pm, Sun. -6pm. Please note that we still need 24 hours advance notice. First show 6-7pm Sept. 30.
Property details
- Type
- Condo, Single Family
- Bedrooms
- 1
- Bathrooms
- 1
- Living area
- 560 sq ft
- Parking
- 0
- Year built
- 2021
- Property tax
- $2,264 / yr
- Strata fee
- $422 / mo ($0.75 / sq ft)
- Strata rules
- Pets Allowed With Restrictions, Rentals Allowed With Restrictions
- Days on market
- 17
- MLS®
- R3168217
Features
- Central location
- Elevator
- Wheelchair access
- Pets Allowed With Restrictions
- Rentals Allowed With Restrictions
- All
Floor plans
Found among the listing photos.
Monthly cost
$3,551/mo
Mortgage $2,941 · Tax $189 · Strata $422
20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.
If you rented it out
- Rent
- $2,112/mo
- After all costs
- −$1,643/mo
- Cap rate
- 2.3%
- yearly net rent ÷ price
Costs: mortgage $2,941 · tax $189 · strata $422 · insurance ~$35 · vacancy 3% · upkeep 5%.
Rent starts at CMHC's average for a 1-bedroom in Downtown, Vancouver (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
- Vancouver also charges an empty homes tax. vancouver.ca
- Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca
Location
VancouverGoogle Maps ↗
Schools
Catchment schools, Vancouver School Board
- Elementary Roberts Elementaryhomes in this catchment
1.3 km away · 1100 Bidwell St, Vancouver · 604-713-5055
- Secondary King George Secondaryhomes in this catchment
1.6 km away · 1755 Barclay St, Vancouver · 604-713-8999
From the Vancouver School Board'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.
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