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$1,549,000

502 1012 BEACH AVENUE

Vancouver · MLS® R3139976

2 bed · 2 bath · 1,587 sq ft · 3 parking

Condo · Single Family · built 1991 · 106 days on market

Listed by Debra Porteous, Sotheby's International Realty Canada

Realtor's description

WATERFRONT OPPORTUNITY on the SEAWALL! 1st time on the market this spacious 2 bedroom, 2 bath features over 1600 SF of living space. Southeast facing great room combines living, dining plus family area perched over the 1000 Beach Marina with unobstructed False Creek water views to Granville Island. Kitchen with eating area offers easy access to the sunny BBQ balcony. King size Primary bedroom with ensuite and large walk in closet enjoys the ocean breezes and West views to Sunset Beach. Generous 2nd bedroom with built-in office also overlooks the water to the West. Full size laundry room provides added storage. Value 3 parking stalls plus a locker. Pets & rentals allowed. Great amenities -concierge, pool, sauna, gym & squash. Create your dream home!

Property details

Type: Condo, Single Family
Bedrooms: 2
Bathrooms: 2
Living area: 1,587 sq ft
Parking: 3
Year built: 1991
Property tax: $4,403 / yr
Strata fee: $1,245 / mo ($0.78 / sq ft)
Strata rules: Pets Allowed With Restrictions
Days on market: 106
MLS®: R3139976

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

Features

Central location
Elevator
Pets Allowed With Restrictions
All
Intercom

Floor plans

Found among the listing photos.

Price check

Typical for the area (-4.3%)

2026 assessment: $1,429,000 · asking is +8.4%
Price per sq ft: $976 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 106 days · no price changes so far

The market here

Listed now: 38 days; median for 2212 condos for sale; this one 106 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$1,429,000	$4,805

The listing shows $4,403 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

$8,361/mo

Mortgage $6,749 · Tax $367 · Strata $1,245

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

estimated payment

$6,749/ monthly

loan $1,239,200

25-year amortization

down payment20% · $309,80020%+ 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: $785,453
property transfer tax: $28,980; BC general rate
cash to close: $338,780; down + PTT
total paid: $2,024,653

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: $3,258/mo
After all costs: −$5,398/mo
Cap rate: 1.0%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $6,749 · tax $367 · strata $1,245 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 2-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: 10,437 m² (112,343 sq ft) · PID 015-866-289. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

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Location

VancouverGoogle Maps ↗

Schools

Catchment schools, Vancouver School Board

Elementary Roberts Elementaryhomes in this catchment
1.3 km away · 1100 Bidwell St, Vancouver · 604-713-5055
Secondary King George Secondaryhomes in this catchment
1.6 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.

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