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517, 5 Berkeley Place W
homes for sale · Lethbridge · Varsity Village
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$230,000

517, 5 Berkeley Place W

Varsity Village, Lethbridge · MLS® A2344960

211

1,083 sq ft · Condo · Single Family · built 1982 · 40 days on market

listed by Meagan Turner, Century 21 Foothills South Real Estate

realtor's description

Invest in your education, your lifestyle and your future. Located directly across from the University of Lethbridge, this completely remodeled 5th floor suite offers an affordable way to own instead of rent, or a smart opportunity for parents looking to invest in a home away from home for their student. For landlords, the location makes this an easy choice for those looking to provide convenient housing for U of L students. Contemporary and completely updated, this 1,083.0 sq. ft. CORNER UNIT offers a fresh, modern feel throughout with all new flooring, a beautifully updated bathroom with a walk in shower, and a refreshed kitchen featuring granite countertops. The huge living room provides plenty of space to study, relax or entertain, while the large balcony offers east facing views overlooking the University campus. Imagine stepping out for your morning coffee while watching campus come to life. This is an end/corner unit, so there is only a neighbor on one side + across the hall, so noise is not an issue! There is no shortage of storage with generous closets and additional space throughout, making it easy to keep everything organized without giving up valuable living space. Located on the 5th floor of a well maintained 6 story building, you can enjoy the convenience of condo living with a resident manager, Bruce, on site to assist when needed. With all utilities included in the condo fees except power, this is an opportunity to keep the cost of living predictable and focus your money where it matters most. It's a true lock and go lifestyle too, making it ideal for students, parents, snowbirds, frequent travellers or anyone who wants the freedom to lock the door and go. Whether you're a student ready to own your own place, a parent looking to invest in your child's future, or a landlord seeking a desirable location steps from the U of L, this one checks the boxes. Affordable ownership, low maintenance living and an unbeatable location make this a smart place to cal l home, rent out or simply lock up and head out on your next adventure.

property details

type
Condo, Single Family
bedrooms
2
bathrooms
1
living area
1,083 sq ft
parking
1
year built
1982
property tax
$2,058 / yr
strata fee
$708 / mo ($0.65 / sq ft)
strata rules
Pets Allowed, Pets Allowed With Restrictions
days on market
40
MLS®
A2344960

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

features

  • Treed
  • Elevator
  • No Animal Home
  • No Smoking Home
  • Parking
  • VisitAble

monthly cost

$1,882/mo
Mortgage $1,002 · Tax $172 · Strata $708

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

estimated payment
$1,002/ monthly
loan $184,000
25-year amortization
total interest
$116,626
land title fees
$515
transfer + mortgage registration; Alberta has no transfer tax
cash to close
$46,515
down + land title fees
total paid
$300,626

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer.

if you rented it out

rent
$1,690/mo
after all costs
−$362/mo
cap rate
3.3%
yearly net rent ÷ price

Costs: mortgage $1,002 · tax $172 · strata $708 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Lethbridge: CMHC's average there ($1,593) raised by what new tenants pay against everyone in the Lethbridge area. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant).) Houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

Alberta has no cap on how much rent can rise, but only one increase a year, with three months' written notice for a monthly tenancy. alberta.ca

location

Varsity Village, LethbridgeGoogle Maps ↗

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listed by
Meagan Turner
Century 21 Foothills South Real Estate
call Meagan · 403-795-8704
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similar homes nearby

city assessment

$196,000

2026 assessment · market value as of July 1, 2025

  • Up 8.3% from $181,000 in 2025
  • Asking price is 17% above the assessment
  • Lot 4,422 m² (47,598 sq ft)
roll yearassessed
2026$196,000
2025$181,000
2024$170,000

From City of Lethbridge open data (parcels and assessments), matched to 517-5 BERKELEY PL W. A mass appraisal of market value, not an appraisal of this home; a new build may be assessed before it was finished.

property tax

about $2,058 a year

The 2026 assessment times Lethbridge's 2026 residential rate of 10.50 per $1,000 (municipal and education).

The listing shows $2,058 a year in property tax.

Estimate from Alberta Municipal Affairs mill rates. Leaves out local improvement levies and utilities; the municipality's tax notice is the real figure.

location

Varsity Village, LethbridgeGoogle Maps ↗
Drive times
  • University of Lethbridge2 min
  • Mike Mountain Horse Elementary4 min
  • Downtown Lethbridge6 min
  • Chinook High7 min
  • Park Place Mall8 min
  • Chinook Regional Hospital9 min
43

Walkability 43/100 · Somewhat walkable: some errands on foot

Within a 10 minute walk: 5 places to eat or drink, 7 parks and playgrounds, 1 school, 1 pharmacy, 4 transit stops.

mihom score from OpenStreetMap places, by straight line distance.

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