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$499,900

505 7977 LANSDOWNE ROAD

Richmond · MLS® R3133263

All units at 7977 Lansdowne Rd →

1 bed · 1 bath · 512 sq ft

Condo · Single Family · built 2025 · 123 days on market

Listed by Steven C Li, Sutton Group - 1st West Realty

Realtor's description

Experience urban luxury in this South-facing 1-bedroom, 1-bathroom residence at Luxe. An exceptional opportunity for end-users and investors seeking long-term growth, this home is ideally located at No. 3 Road & Lansdowne, right across from the SkyTrain Station for effortless transit, dining, and shopping. Inside, enjoy a functional, open-concept layout highlighted by a gourmet kitchen with premium appliances. Luxe offers world-class amenities: Outdoor Pool & Cabanas, Fitness Centre with Spin Studio & Private Saunas, Outdoor Lounges& BBQ Area,Coworking Lounge with Private Zoom Rooms, Karaoke/Games Room, Social Lounges, Private Dog Run, and Children´s Play Area. Don't miss out!

Property details

Type: Condo, Single Family
Bedrooms: 1
Bathrooms: 1
Living area: 512 sq ft
Parking: 0
Year built: 2025
Property tax: $2,229 / yr
Strata fee: $429 / mo ($0.84 / sq ft)
Strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
Days on market: 123
MLS®: R3133263

Features

Elevator
Pets Allowed With Restrictions
Rentals Allowed With Restrictions

Floor plans

Found among the listing photos.

Price check

Above typical for the area (+23%)

2026 assessment: $630,000 · asking is -21%
Price per sq ft: $976 vs $795 median for condos in Richmond for sale (821)

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 123 days · no price changes so far

The market here

Listed now: 66 days; median for 852 condos for sale; this one 123 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$630,000	$2,229

The listing shows $2,229 a year in property tax.

Estimate: the BC Assessment value times Richmond'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

$2,793/mo

Mortgage $2,178 · Tax $186 · Strata $429

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: $1,676/mo
After all costs: −$1,286/mo
Cap rate: 2.1%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,178 · tax $186 · strata $429 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 1-bedroom in Richmond (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

The building's lot: 7,455 m² (80,245 sq ft) · PID 032-648-979. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

RichmondGoogle Maps ↗

Location

RichmondGoogle Maps ↗

Schools

Catchment schools, Richmond School District 38

Elementary City Centre Elementaryhomes in this catchment
Secondary Richmond Secondaryhomes in this catchment
1.5 km away · 7171 Minoru Blvd, Richmond · 604-668-6400

From the Richmond School District 38'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

Wildfire
The BC Wildfire Service rates Vancouver's wildland urban interface as risk class 5 of 5 (lowest; 1 is the highest). One wildfire of 10 hectares or more burned within 5 km since 2006: 2018 (13 ha). Some insurers price for wildfire, and FireSmart BC has a free home assessment guide.
Source: BC Wildfire Service, WUI risk class and fire perimeters

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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