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$499,900

401 1238 RICHARDS STREET

Vancouver · MLS® R3162538

All units at 1238 Richards St →

1 bed · 1 bath · 502 sq ft

Condo · Single Family · built 1998 · 31 days on market

Listed by Shelly Smee, Oakwyn Realty Ltd.

Open house · Saturday, October 10, 12pm–2pm

Realtor's description

Welcome to Metropolis, an iconic building at Richards and Davie Street in trendy Yaletown, Vancouver, BC. Single professionals looking for a fabulous downtown living experience will love this boutique 1 bedroom condo featuring a spectacular 400 sq ft, 4th floor private rooftop patio, perfect for entertaining & container gardening in their own urban oasis. Easy access to the best downtown Parks, including Emery Barnes, David Lam and George Wainborn. Easy access to Airport from Davie Station and Major routes close by. The best Dining and Entertainment Downtown Vancouver offers steps away. You will feel welcome in this pet-friendly building with a proven maintenance record and full-time caretaker. Enjoy the Gym, Swirlpool, 3 visitor parking spots, and meeting/party room. An Additional common rooftop deck would be spectacular for a large hosted event! Easy-Open fob doors, parcel delivery area & lobby lounge complete this offering for an active urban lifestyle. **OPEN HOUSE, SAT SEPT 26th, 12-2pm**

Property details

Type: Condo, Single Family
Bedrooms: 1
Bathrooms: 1
Living area: 502 sq ft
Parking: 0
Year built: 1998
Property tax: $1,732 / yr
Strata fee: $323 / mo ($0.64 / sq ft)
Strata rules: Pets Allowed With Restrictions
Days on market: 31
MLS®: R3162538

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

Features

Central location
Elevator
Pets Allowed With Restrictions
All

Price check

Typical for the area (-2.4%)

2026 assessment: $515,000 · asking is -2.9%
Price per sq ft: $996 vs $1,020 median for condos in Vancouver for sale (2041)

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 31 days · no price changes so far

The market here

Listed now: 38 days; median for 2212 condos for sale; this one 31 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$515,000	$1,732

The listing shows $1,732 a year in property tax.

Estimate: the BC Assessment value times Vancouver'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

$2,645/mo

Mortgage $2,178 · Tax $144 · Strata $323

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

estimated payment

$2,178/ monthly

loan $399,920

25-year amortization

down payment20% · $99,98020%+ 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: $253,485
property transfer tax: $7,998; BC general rate
cash to close: $107,978; down + PTT
total paid: $653,405

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: $2,112/mo
After all costs: −$737/mo
Cap rate: 3.5%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,178 · tax $144 · strata $323 · 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

The building's lot: 2,645 m² (28,471 sq ft) · PID 024-183-199. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

VancouverGoogle Maps ↗

Location

VancouverGoogle Maps ↗

Schools

Catchment schools, Vancouver School Board

Elementary Elsie Roy Elementaryhomes in this catchment
400 m away · 150 Drake St, Vancouver · 604-713-5890
Secondary King George Secondaryhomes in this catchment
1.8 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.

Good to know

Heritage
This address is on the Heritage Revitalization Agreement (Vancouver) as "Canadian Linen Company Building". Exterior changes can need a heritage permit, and some heritage homes qualify for grants or incentives; the municipality can confirm.
Source: BC Heritage Branch, historic places and conservation areas

From public government maps, matched to the listing's map pin. Maps can be out of date or miss a lot line; confirm with the municipality.

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