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$568,000

555 8575 RIVERGRASS DRIVE

Vancouver · MLS® R3162125

1 bed · 1 bath · 638 sq ft · 1 parking

Condo · Single Family · built 2022 · 29 days on market

Listed by Joey Chiu, Multiple Realty Ltd.

Welcome to Avalon 3 in Vancouver's highly sought-after River District! This immaculate 1-Bedroom + Den home offers a perfect blend of modern functionality and contemporary style. The bright, open-concept living area features a sleek kitchen with premium appliance, a built-in dining table, and cooling & heating system for year-round comfort. The versatile Den with a full door is perfect for a quiet home office, creative studio or guest space. Amazing amenities include rooftop pool, hot tub, lounge & terrace, gym, courtyard with lush landscaping & concierge. Steps to riverfront trail, grocery, shops, restaurants and banks. BONUS: 1 parking & 1 locker. Ideal for first time buyers, downsizers or investors looking for excellent rental potential! Open House: Oct 10 (SAT) 2-4pm.

Type: Condo, Single Family
Bedrooms: 1
Bathrooms: 1
Living area: 638 sq ft
Parking: 1
Year built: 2022
Property tax: $2,042 / yr
Strata fee: $411 / mo ($0.64 / sq ft)
Strata rules: Pets Allowed With Restrictions
Days on market: 29
MLS®: R3162125

Below typical for the area (-13%)

2026 assessment: $607,000 · asking is -6.4%
Price per sq ft: $890 vs $1,020 median for condos in Vancouver for sale (2065)

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.

Elevator
Pets Allowed With Restrictions
All

On market 29 days

Listed now: 41 days; median for 2065 condos for sale; this one 29 days

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

FloodplainNo
Not within a designated floodplain on the provincial floodplain maps. These maps are historical and don't cover every river or the coast.
Source: Province of BC, Mapped Floodplains in BC
Agricultural Land ReserveNo
Not inside the Agricultural Land Reserve on the provincial map.
Source: Agricultural Land Commission, ALR boundary
HeritageNo
Not on the BC Register of Historic Places or in a heritage conservation area.
Source: BC Heritage Branch, historic places and conservation areas

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 Maps can be out of date or miss a lot line; confirm with the municipality.

Catchment schools, Vancouver School Board

Elementary Champlain Heights Elementaryhomes in this catchment
1.7 km away · 6955 Frontenac St, Vancouver · 604-713-4760
Secondary Killarney Secondaryhomes in this catchment
2.5 km away · 6454 Killarney St, Vancouver · 604-713-8950

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.

$3,055/mo

Mortgage $2,475 · Tax $170 · Strata $411

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

estimated payment

$2,475/ monthly

loan $454,400

25-year amortization

down payment20% · $113,60020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 7, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $288,016
property transfer tax: $9,360; BC general rate
cash to close: $122,960; down + PTT
total paid: $742,416

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.

Rent: $1,714/mo
After all costs: −$1,514/mo
Cap rate: 2.0%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,475 · tax $170 · strata $411 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 1-bedroom in Southeast Vancouver, 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

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