Condo
$709,000
506 1166 MELVILLE STREET
Vancouverlisted today
MLS® R3174229
1 / 10
1 bed · 1 bath · 661 sq ft · 1 parking
Condo · Single Family · built 1998 · 115 days on market
Listed by Joseph Liang, RE/MAX Select Properties
Realtor's description
Looking for a smart investment or your first downtown pad? This bright 1 bed + den suite is a proven performer - stylish, functional, and perfectly placed for high rental demand. Located just steps from shopping, restaurants, transit, and entertainment, Genesis is a solid choice for those who value convenience and lifestyle. The building also offers great amenities, including an indoor pool, gym, and concierge service. This unit delivers lifestyle and convenience in one package. Perfect for your next investment or first home! Book your viewing appointment today!
Property details
- Type
- Condo, Single Family
- Bedrooms
- 1
- Bathrooms
- 1
- Living area
- 661 sq ft
- Parking
- 1
- Year built
- 1998
- Property tax
- $1,968 / yr
- Strata fee
- $522 / mo ($0.79 / sq ft)
- Strata rules
- Pets Allowed With Restrictions, Rentals Allowed With Restrictions
- Days on market
- 115
- MLS®
- R3136171
Features
- Central location
- Pets Allowed With Restrictions
- Rentals Allowed With Restrictions
Monthly cost
$3,496/mo
Mortgage $2,810 · Tax $164 · Strata $522
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
- $2,112/mo
- After all costs
- −$1,588/mo
- Cap rate
- 2.3%
- yearly net rent ÷ price
Costs: mortgage $2,810 · tax $164 · strata $522 · 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
VancouverGoogle Maps ↗
Schools
Catchment schools, Vancouver School Board
- Elementary šxʷwəq̓ʷəθət Crosstown Elementaryhomes in this catchment
- Secondary King George Secondaryhomes in this catchment
1.5 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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