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$628,000

PH7 5388 GRIMMER STREET

Burnaby · MLS® R3171643

All units at 5388 Grimmer St →

2 bed · 2 bath · 830 sq ft · 1 parking

Condo · Single Family · built 2010 · 8 days on market

Listed by Surinder Bhandal, Royal Pacific Realty (Kingsway) Ltd.

Realtor's description

Welcome to this bright and spacious penthouse. Corner unit, 2 bedrooms, 2 full bath. The gourmet kitchen, granite counter tops, insuite laundry. Private balcony, high ceilings, one parking stall and storage locker. Walking distance to Royal Oak Skytrain station, central location. Close to all amenities.

Property details

Type: Condo, Single Family
Bedrooms: 2
Bathrooms: 2
Living area: 830 sq ft
Parking: 1
Year built: 2010
Property tax: $2,244 / yr
Days on market: 8
MLS®: R3171643

Price check

Below typical for the area (-13%)

2026 assessment: $679,000 · asking is -7.5%
Price per sq ft: $757 vs $870 median for condos in Burnaby for sale (975)

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 8 days · no price changes so far

The market here

Listed now: 51 days; median for 1048 condos for sale; this one 8 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$679,000	$2,230
2025	$706,000	$2,102

Estimated tax up 6.1% from 2025 to 2026.

The listing shows $2,244 a year in property tax.

Estimate: the BC Assessment value times Burnaby'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

$2,923/mo

Mortgage $2,736 · Tax $187

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

estimated payment

$2,736/ monthly

loan $502,400

25-year amortization

down payment20% · $125,60020%+ 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: $318,441
property transfer tax: $10,560; BC general rate
cash to close: $136,160; down + PTT
total paid: $820,841

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: $2,325/mo
After all costs: −$819/mo
Cap rate: 3.7%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,736 · tax $187 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 2-bedroom in Central Park/Metrotown, Burnaby (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

The building's lot: 2,027 m² (21,818 sq ft) · PID 028-722-493. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

BurnabyGoogle Maps ↗

Location

BurnabyGoogle Maps ↗

Schools

Catchment schools, Burnaby School District 41

Elementary Maywood Community Elementaryhomes in this catchment
1000 m away · 4567 Imperial St, Burnaby · 604-296-9022

From the Burnaby School District 41'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.

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