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405 1502 Island Park Walk
homes for sale · Vancouver
405 1502 Island Park Walk — photo 1 of 29
1 / 29
$798,000

405 1502 Island Park Walk

Vancouver · MLS® R3179770

111

962 sq ft · Condo · Single Family · built 1989 · 1 day on market

listed by Andrea Kavanagh, RE/MAX Select Properties

realtor's description

Experience the best of waterfront living in this beautifully renovated top-floor penthouse overlooking the tranquil lagoons of False Creek. This spacious one-bedroom home, featuring a beautifully updated spa-like bathroom offers an oversized, flexible layout, with sweeping southwest-facing views of the marina, North Shore Mountains, and city skyline. Floor-to-ceiling windows and solarium-style skylights fill the space with natural light. A private 64 sq.ft. balcony creates a welcoming retreat. Renovated in 2024 this home combines character, style and charm with an exceptional setting. Step outside to the Seawall, cafés, restaurants, theatres and the vibrant atmosphere of Granville Island. Includes one parking stall and a storage locker. Desirable, well-maintained complex in an amazing community. City of Vancouver lease until 2046, with an option to extend to 2066. A rare opportunity to enjoy a truly special waterfront lifestyle.

similar homes nearby

call Andrea

property details

type
Condo, Single Family
bedrooms
1
bathrooms
1
living area
962 sq ft
parking
1
year built
1989
property tax
$2,634 / yr
strata fee
$667 / mo ($0.69 / sq ft)
strata rules
Pets Allowed With Restrictions, Rentals Allowed With Restrictions
days on market
1
MLS®
R3179770

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

features

  • Central location
  • Elevator
  • Pets Allowed With Restrictions
  • Rentals Allowed With Restrictions
  • All

floor plans

found among the listing photos.

monthly cost

$4,399/mo
Mortgage $3,512 · Tax $219 · Strata $667

20% down at 4.44% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.

estimated payment
$3,512/ monthly
loan $638,400
25-year amortization
total interest
$415,232
property transfer tax
$13,960
BC general rate
cash to close
$173,560
down + PTT
total paid
$1,053,632
transfer tax

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer. Transfer tax: 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyers pay nothing on the first $500k for homes up to $835k (phasing out by $860k); newly built homes are exempt up to $1.1M (phasing out by $1.15M). Both need Canadian citizenship or permanent residence and other conditions; the 20% foreign buyer tax applies in Metro Vancouver, the Fraser Valley, the Capital Region, Central Okanagan and Nanaimo.

if you rented it out

rent
$2,140/mo
after all costs
−$2,465/mo
cap rate
1.6%
yearly net rent ÷ price

Costs: mortgage $3,512 · tax $219 · strata $667 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 1-bedroom in South Granville/Oak, Vancouver: CMHC's average there ($1,863) raised by what new tenants pay against everyone in the Vancouver area, then down 1.5% with Vancouver's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) 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

schools

Catchment schools, Vancouver School Board

  • Elementary Hudson Elementaryhomes in this catchment

    800 m away · 1530 Maple Street, Vancouver · 604-713-5441

  • Secondary Kitsilano Secondaryhomes in this catchment

    2.1 km away · 2706 Trafalgar St, Vancouver · 604-713-8961

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.

Keep private notes and ratings on homes you're considering. (email only) and they follow you to every device.

listed by
Andrea Kavanagh
RE/MAX Select Properties
604-678-5166call Andrea
Powered by: REALTOR.ca

location

VancouverGoogle Maps ↗

Rapid transit: Yaletown–Roundhouse SkyTrain station, 1.3 km (about 20 min walk); Olympic Village SkyTrain station, 1.7 km (about 26 min walk).

property tax by year

yearassessedest. tax
2026$783,000$2,633
2025$882,000$2,748

Estimated tax down 4.2% from 2025 to 2026.

The listing shows $2,634 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.

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311 702 E King Edward Avenue
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listed by Oakwyn Realty Ltd.
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10% less per sq ft
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410 3727 W 10th Avenue
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2211,007 sq ft
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the market here

listed now
46 days
median for 2080 condos for sale; this one 1 day

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

location

the building's lot: 11,458 m² (123,333 sq ft) · PID 010-199-462. from ParcelMap BC; property lines are approximate, a survey is the legal boundary.

VancouverGoogle Maps ↗

Rapid transit: Yaletown–Roundhouse SkyTrain station, 1.3 km (about 20 min walk); Olympic Village SkyTrain station, 1.7 km (about 26 min walk).

Drive times
  • Henry Hudson Elementary3 min
  • Canada Royal High3 min
  • Vancouver General Hospital5 min
  • Downtown Vancouver6 min
  • Pacific Institute Of Culinary Arts6 min
  • YVR airport20 min
93

Walkability 93/100 · Very walkable: most errands on foot

Within a 10 minute walk: 1 grocery store, 47 places to eat or drink, 24 cafes, 16 parks and playgrounds, 25 transit stops.

mihom score from OpenStreetMap places, by straight line distance.