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$479,000

705 10523 UNIVERSITY DRIVE

Surrey · MLS® R3158908

All units at 10523 University Dr →

2 bed · 1 bath · 707 sq ft · 1 parking

Condo · Single Family · built 1994 · 44 days on market

Listed by Tommy Lu, 1NE Collective Realty Inc.

Open house · Saturday, October 10, 2pm–4pm

Realtor's description

Getting a 2 bedroom for the price of 1 bedroom, this must be the best value in all of Surrey Central! Experience vibrant downtown Surrey Central living in this fully renovated 2-bedroom, 1-bathroom corner unit featuring a spacious wrap-around balcony with stunning city views. Enjoy convenient access to SkyTrain, SFU Surrey Campus, shopping, dining, and everyday amenities. A well-managed strata adds peace of mind, making this an excellent opportunity for homeowners or investors. Don't miss your chance to see this stylish urban retreat. 1 Parking and 1 Storage Locker. Open House Saturday Sept 12th 2-4pm.

Property details

Type: Condo, Single Family
Bedrooms: 2
Bathrooms: 1
Living area: 707 sq ft
Parking: 1
Year built: 1994
Property tax: $2,057 / yr
Strata fee: $404 / mo ($0.57 / sq ft)
Strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
Days on market: 44
MLS®: R3158908

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

Features

Pets Allowed With Restrictions
Rentals Allowed With Restrictions
Washer
Refrigerator
Dishwasher
Stove

Floor plans

Found among the listing photos.

Price check

Typical for the area (+0.7%)

2026 assessment: $426,000 · asking is +12%
Price per sq ft: $678 vs $673 median for condos in Surrey for sale (983)
Last sold: $485,000 · Mar 19, 2024

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 44 days · no price changes so far

The market here

Listed now: 60 days; median for 1054 condos for sale; this one 44 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$426,000	$1,460

The listing shows $2,057 a year in property tax.

Estimate: the BC Assessment value times Surrey'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

$2,663/mo

Mortgage $2,087 · Tax $171 · Strata $404

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

estimated payment

$2,087/ monthly

loan $383,200

25-year amortization

down payment20% · $95,80020%+ 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: $242,887
property transfer tax: $7,580; BC general rate
cash to close: $103,380; down + PTT
total paid: $626,087

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: $1,872/mo
After all costs: −$975/mo
Cap rate: 2.8%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,087 · tax $171 · strata $404 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 2-bedroom in Surrey (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
Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca

Location

SurreyGoogle Maps ↗

Location

SurreyGoogle Maps ↗

Schools

Catchment schools, Surrey School District 36

Elementary K.B. Woodward Elementaryhomes in this catchment
600 m away · 13130 106 Ave, Surrey · 604-588-5918
Secondary Kwantlen Park Secondaryhomes in this catchment
400 m away · 10441 132 St, Surrey · 604-588-6934

From the Surrey School District 36'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.

Development nearby

Rezoning for 730 homes
170 m away · 2025 · conditionally approved
Rezoning from Multiple Residential 45 Zone (RM-45) to Comprehensive Development Zone (CD) (based on Multiple Residential Commercial 135 Zone RMC-135); Subdivision from one (1) lot into three (3) lots; Official Community Plan (OCP) Amendment of Figure 16: Downtown Densities from 3.5 FAR to 5.5 FAR; Neighbourhood Concept Plan (NCP) Amendment to the City Centre Plan from Mid to High Rise Residential
Rezoning for 705 homes
230 m away · 2024 · conditionally approved
Rezoning from Multiple Residential 45 Zone (RM-45) to Comprehensive Development Zone (CD) (based on RM-135 and C-15); Subdivision from four (4) lots into eight (8) lots; Official Community Plan (OCP) Amendment to add the western portion of the site to Figure 16 as Downtown (3.5 FAR) and to amend Figure 16: Downtown Densities for the eastern portion of the site from 3.5 to 5.5 FAR. City Centre Plan
Rezoning for a 35 storey, 561 unit building
280 m away · 2023 · conditionally approved
Rezoning from Multiple Residential 45 Zone (RM-45) to Comprehensive Development Zone (CD) (based on Multiple Residential Commercial 135 Zone (RM-135); Subdivision from one (1) into two (2) lots; Official Community Plan (OCP) Amendment from Multiple Residential to Downtown and to Figure 16: Downtown Densities to permit a density of 5.5 FAR; Neighbourhood Concept Plan (NCP) Amendment to the City Cen
Rezoning for a 44 storey, 424 unit building
360 m away · 2023 · conditionally approved
Rezoning from Single Family Residential Zone (RF) to Comprehensive Development Zone (CD) (based on Multiple Residential 135 Zone (RM-135) and Community Commercial Zone (C-8); Subdivision (Consolidation) from three (3) to one (1) lot; Official Community Plan (OCP) Amendment to Downtown Densities from 5.5 FAR to 7.5 FAR; Official Community Plan Text Amendment to allow for a density of 9.9 FAR within
Development permit for a 52 storey building
320 m away · 2023 · concluded
Development Permit / Development Variance Permit and Housing Agreement to permit the development of Phase 2 of a mixed-use project consisting of one 52-storey mixed-use tower and one 2-storey stand-alone commercial building.

And 4 smaller applications nearby.

Applications filed with the city, active or decided in the last 3 years, measured from the listing's map pin. An application isn't an approval; the city's page has the current details. Source: City of Surrey development applications.

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