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$799,000

507 1189 MELVILLE STREET

Vancouver · MLS® R3156967

All units at 1189 Melville St →

1 bed · 1 bath · 726 sq ft · 1 parking

Condo · Single Family · built 2007 · 52 days on market

Listed by Molly Lowe, Engel & Volkers Vancouver

Realtor's description

Welcome home to The Melville in the heart of Coal Harbour. This Junior 2 Bedroom home boasts city and mountain views, full-sized appliances, and an efficient open-concept layout. The den is perfect for WFH, hobbies or a second bedroom. Just steps from the seawall, Stanley Park, marina, and some of Vancouver's best restaurants and cafes. The building offers 24-hour concierge, party room and rare rooftop ammenties that include panoramic views from English Bay to Burrard Inlet, complete with fitness centre, sauna, outdoor swimming pool and jacuzzi. 1 secured parking stall and 1 locker included. Pets and rentals allowed. Some photos virtually staged. Open Sat 2:30-4pm.

Property details

Type: Condo, Single Family
Bedrooms: 1
Bathrooms: 1
Living area: 726 sq ft
Parking: 1
Year built: 2007
Property tax: $2,412 / yr
Strata fee: $606 / mo ($0.83 / sq ft)
Strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
Days on market: 52
MLS®: R3156967

Features

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

Floor plans

Found among the listing photos.

Price check

Above typical for the area (+7.8%)

2026 assessment: $717,000 · asking is +11%
Price per sq ft: $1,101 vs $1,021 median for condos in Vancouver for sale (2043)

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 52 days · no price changes so far

The market here

Listed now: 38 days; median for 2214 condos for sale; this one 52 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$717,000	$2,411

The listing shows $2,412 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

$4,288/mo

Mortgage $3,481 · Tax $201 · Strata $606

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

estimated payment

$3,481/ monthly

loan $639,200

25-year amortization

down payment20% · $159,80020%+ 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: $405,150
property transfer tax: $13,980; BC general rate
cash to close: $173,780; down + PTT
total paid: $1,044,350

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: $2,112/mo
After all costs: −$2,380/mo
Cap rate: 1.7%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $3,481 · tax $201 · strata $606 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 1-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: 2,840 m² (30,569 sq ft) · PID 027-055-043. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

VancouverGoogle Maps ↗

Location

VancouverGoogle Maps ↗

Schools

Catchment schools, Vancouver School Board

Elementary cəw̓as Ch’elxwá7elch Skwuláw̓txw Seaside Elementaryhomes in this catchment
Secondary King George Secondaryhomes in this catchment
900 m 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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