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$1,549,900

7339 122A STREET

Surrey · MLS® R3161859

5 bed · 3 bath · 2,421 sq ft · 8,848 sq ft lot · 8 parking

House · Single Family · built 1975 · 25 days on market

Listed by Dawinder Chahal, Royal LePage Global Force Realty

Realtor's description

INVESTOR & BUILDER ALERT in prime West Newton / Strawberry Hill! Flat, rectangular 8,800+ sq ft lot with massive development and holding potential. Within 400m of Scottsdale Exchange (confirm with city before offer) with Townhouses already built right at the back. Located directly near the Scottsdale Transit Exchange corridor, providing rapid access to major transit lines, R6 RapidBus, & key commuter routes. Unbeatable location steps from Strawberry Hill Shopping Centre, Cineplex, Kwantlen Polytechnic University (KPU), Westerman Elementary, & Princess Margaret Secondary. Existing home offers 5 Bedrooms w/ 1 bed rental suite. Solid holding income while you finalize plans. High-demand rental market ensures immediate cash flow. Rare development opportunity in a rapidly growing area-act fast!

Property details

Type: House, Single Family
Bedrooms: 5
Bathrooms: 3
Living area: 2,421 sq ft
Lot: 8,848 sq ft
Parking: 8
Year built: 1975
Property tax: $6,537 / yr
Days on market: 25
MLS®: R3161859

Features

Washer
Refrigerator
Dishwasher
Stove
Dryer

Price check

Above typical for the area (+20%)

2026 assessment: $1,335,500 · asking is +16%
Price per sq ft: $640 vs $532 median for houses in Surrey for sale (1854)

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 25 days · no price changes so far

The market here

Listed now: 64 days; median for 1907 houses for sale; this one 25 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$1,335,500	$4,577

The listing shows $6,537 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

$7,298/mo

Mortgage $6,753 · Tax $545

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

estimated payment

$6,753/ monthly

loan $1,239,920

25-year amortization

down payment20% · $309,98020%+ 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: $785,910
property transfer tax: $28,998; BC general rate
cash to close: $338,978; down + PTT
total paid: $2,025,830

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

Suite rent: $1,602/mo
Your cost after the suite: $5,999/mo; vs $7,473 without it

Suite rent / moDown payment %Rate %

Costs: mortgage $6,753 · tax $545 · insurance ~$175 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 3+ bedroom (1-bedroom for the suite) 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 Westerman Elementaryhomes in this catchment
600 m away · 7626 122 St, Surrey · 604-572-4054
Secondary Princess Margaret Secondaryhomes in this catchment
1.3 km away · 12870 72 Ave, Surrey · 604-594-5458

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
300 m away · 2019 · under review
Rezoning from RA to RF Subdivision from one (1) to two (2) lots and a Development Variance Permit to vary lot width of proposed LT 1 from 15.0m to 13.1m and the side yard setbacks of proposed LT 1 2 from 1.8m to 1.2m
Rezoning
350 m away · 2024 · conditionally approved
Rezoning property from Urban Residential Zone (R3) to Comprehensive Development Zone (CD) (based on Child Care Zone (CCR) to permit a childcare with up to 24 children within a single-family dwelling.

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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