Open houseCondo
$1,195,000
802 388 DRAKE STREET
Vancouver51 days on market
MLS® R3156151
1 / 16
2 bed · 2 bath · 1,081 sq ft · 2 parking
Condo · Single Family · built 2012 · 127 days on market
Listed by Manjit Claire, RE/MAX Real Estate Services
Realtor's description
Experience refined West Coast living in this exceptional 2-bedroom residence at Sitka by Polygon, ideally situated in the heart of UBC. Thoughtfully designed with a bright, open-concept floor plan, this home features expansive windows that fill the space with natural light. Enjoy this stylish and functional space for everyday living and entertaining with the convenience of being just steps from UBC, beautiful parks, shopping, dining, and everyday amenities. Whether you're seeking a place to call home or a strong investment opportunity, this residence offers outstanding value in one of Vancouver´s most desirable and sought-after communities.
Property details
- Type
- Condo, Single Family
- Bedrooms
- 2
- Bathrooms
- 2
- Living area
- 1,081 sq ft
- Parking
- 2
- Year built
- 2012
- Property tax
- $1,542 / yr
- Strata fee
- $524 / mo ($0.48 / sq ft)
- Strata rules
- Pets Allowed With Restrictions
- Days on market
- 127
- MLS®
- R3132051
Features
- Pets Allowed With Restrictions
Monthly cost
$4,887/mo
Mortgage $4,235 · Tax $128 · Strata $524
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
- $2,364/mo
- After all costs
- −$2,747/mo
- Cap rate
- 1.8%
- yearly net rent ÷ price
Costs: mortgage $4,235 · tax $128 · strata $524 · insurance ~$35 · vacancy 3% · upkeep 5%.
Rent starts at CMHC's average for a 2-bedroom in Metro 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 Norma Rose Point Elementaryhomes in this catchment
800 m away · 5488 Ortona Ave, Vancouver · 604-713-5950
- Secondary University Hill Secondaryhomes in this catchment
1.1 km away · 3228 Ross Dr, Vancouver · 604-713-8258
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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