Condo
$709,000
506 1166 MELVILLE STREET
Vancouverlisted today
MLS® R3174229
1 / 19
2 bed · 2 bath · 856 sq ft · 1 parking
Condo · Single Family · built 2011 · 253 days on market
Listed by Eve Chuang, RE/MAX Crest Realty
Realtor's description
Welcome to SPIRIT by award-winning developer ADERA, located in the heart of Wesbrook Village. This well-maintained 2-bedroom plus den penthouse features an efficient layout and 12-foot ceilings. Enjoy a walkable neighbourhood close to shops, restaurants, cafés, banks, and Save-On-Foods. Surrounded by parks and outdoor recreation including beaches, sand volleyball, and sports fields. Transit at your doorstep with easy access to the rest of Vancouver. Excellent school catchment including Norma Rose Point School, U-Hill Secondary, and UBC. One parking and one locker included.
Property details
- Type
- Condo, Single Family
- Bedrooms
- 2
- Bathrooms
- 2
- Living area
- 856 sq ft
- Parking
- 1
- Year built
- 2011
- Property tax
- $1,679 / yr
- Strata fee
- $404 / mo ($0.47 / sq ft)
- Strata rules
- Pets Allowed With Restrictions, Rentals Allowed With Restrictions
- Days on market
- 253
- MLS®
- R3084625
Features
- Elevator
- Pets Allowed With Restrictions
- Rentals Allowed With Restrictions
- All
Monthly cost
$4,465/mo
Mortgage $3,921 · Tax $140 · Strata $404
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
- −$2,325/mo
- Cap rate
- 2.1%
- yearly net rent ÷ price
Costs: mortgage $3,921 · tax $140 · strata $404 · 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
1.0 km away · 5488 Ortona Ave, Vancouver · 604-713-5950
- Secondary University Hill Secondaryhomes in this catchment
500 m 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.
Keep private notes and ratings on homes you're considering. Sign in (email only) and they follow you to every device.
