Condo
$565,000
2607 2181 MADISON AVENUE
Burnaby1 day on market
MLS® R3173954
1 / 20
2 bed · 1 bath · 875 sq ft · 1 parking
Condo · Single Family · built 1975 · 25 days on market
Listed by Lyn Hart, Keller Williams Bold Realty
Realtor's description
PRICE IMPROVEMENT! Bright South-Facing 2-Bed with City Views in Prime Capitol Hill! Welcome to this well-laid-out 2-bedroom, 1-bath residence tucked away on the quiet side of the Cedarwood. The spacious living area centers around a cozy brick fireplace that leads to an oversized, covered balcony offering a stunning city outlook. This unit features bedrooms that comfortably fit full-sized furnishings, low-maintenance laminate flooring throughout, and wheelchair accessibility for ultimate convenience. Amenities include a fitness room, billiards lounge, sauna, and pet-friendly building. Well-run strata with a VERY healthy CRF. Complete with parking and storage-an excellent opportunity!
Property details
- Type
- Condo, Single Family
- Bedrooms
- 2
- Bathrooms
- 1
- Living area
- 875 sq ft
- Parking
- 1
- Year built
- 1975
- Property tax
- $1,624 / yr
- Strata fee
- $493 / mo ($0.56 / sq ft)
- Strata rules
- Pets Allowed With Restrictions, Rentals Allowed With Restrictions
- Days on market
- 25
- MLS®
- R3164848
Features
- Central location
- Elevator
- Pets Allowed With Restrictions
- Rentals Allowed With Restrictions
Monthly cost
$2,541/mo
Mortgage $1,913 · Tax $135 · Strata $493
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
- $2,110/mo
- After all costs
- −$635/mo
- Cap rate
- 3.5%
- yearly net rent ÷ price
Costs: mortgage $1,913 · tax $135 · strata $493 · insurance ~$35 · vacancy 3% · upkeep 5%.
Rent starts at CMHC's average for a 2-bedroom in North Burnaby, Burnaby (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
BurnabyGoogle Maps ↗
Schools
Catchment schools, Burnaby School District 41
- Elementary Capitol Hill Elementaryhomes in this catchment
500 m away · 350s Holdom Ave, Burnaby · 604-296-9006
From the Burnaby School District 41'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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