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
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.
20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.
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
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$196,000
2026 assessment · market value as of July 1, 2025
| roll year | assessed |
|---|---|
| 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.
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.
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.