Condo
$799,000
31% less per sq ft2203 6240 MCKAY AVENUE
Burnaby66 days on market
MLS® R3152542
1 / 22
2 bed · 2 bath · 825 sq ft · 1 parking
Condo · Single Family · built 2019 · 183 days on market
Listed by Rachel Chen, Sutton Group - 1st West Realty
Realtor's description
Built by trusted developer Intergulf Development Group, Terraces at The Peak offers one of the most compelling investment opportunities in the vibrant SFU community. This south-facing 827 square ft 2-bedroom + 2-bathroom LOCK-OFF residence features two separate entrances, creating exceptional flexibility for both investors and end users. The thoughtfully designed floorplan can be divided into two self-contained living sections, making it ideal for rental income, multigenerational living, or a mortgage helper setup. One side offers a full 1-bedroom home complete with kitchen, dining, and living area, while the secondary lock-off suite functions as a private 1-bedroom space with its own mini bar fridge and sink counter, perfect for a home office or supplemental income.
Property details
- Type
- Condo, Single Family
- Bedrooms
- 2
- Bathrooms
- 2
- Living area
- 825 sq ft
- Parking
- 1
- Year built
- 2019
- Property tax
- $2,042 / yr
- Strata fee
- $534 / mo ($0.65 / sq ft)
- Strata rules
- Pets Allowed With Restrictions
- Days on market
- 183
- MLS®
- R3109517
Features
- Central location
- Treed
- Elevator
- Pets Allowed With Restrictions
- All
Monthly cost
$3,396/mo
Mortgage $2,693 · Tax $170 · Strata $534
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
- −$1,490/mo
- Cap rate
- 2.3%
- yearly net rent ÷ price
Costs: mortgage $2,693 · tax $170 · strata $534 · 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 University Highlands Elementaryhomes in this catchment
300 m away · 9388 Tower Rd, Burnaby · 604-296-9036
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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