501 5885 OLIVE AVENUE
Burnaby, BC V5H4N8
$683,000
Amenities
Also listed: Recreation Centre, Laundry - In Suite
Property Details
Property & Lot
- Sub-type
- Apartment
Ownership & Fees
- Property type
- Condo / Apartment
- Ownership
- Strata
- Strata / maintenance fee
- $534/mo
- Annual property tax
- $2,280.38 (2025)
Interior
- Heating
- Electric
- Fireplace
- None
Exterior & Lot
- Pool
- Indoor pool
Parking
- Total spaces
- 1 — uncovered indicated
- Features
- Underground
Restrictions & Policies
- Pets
- Allowed with restrictions
- Rentals
- Allowed with restrictions
As reported by the listing board — always confirm current bylaws with the strata or landlord before relying on this.
Listing Information
- MLS®
- R3113590
- Listed
- April 20, 2026
- Time on market
- On the market for 133 days
- Tax assessment year
- 2025
- Data last synced
- August 28, 2026
Listing provided by: Sutton Group - Vancouver First Realty · Data source: CREA DDF.
Description
Welcome to this exceptionally spacious 1,180 sq. ft. residence in an established, well-cared-for Burnaby building in the heart of Metrotown. This home features 2 generously sized bedrooms and 2 full bathrooms, offering a highly practical floor plan that easily accommodates house-sized furniture. Residents enjoy access to solid amenities including an indoor pool, recreation center, and sauna/steam room, all within a wheelchair-accessible building. Complete with 1 parking and 1 storage locker, this unit provides straightforward, comfortable living. Located just a short walk from the everyday conveniences of Metrotown, Central Park trails, and the SkyTrain, this property is a wonderful opportunity to secure substantial, well-connected space. (id:63159)
Values & Trends
This listing
$577/sqft
Building average
$648/sqft
5 active listing(s)
Burnaby average
$865/sqft
1019 active listing(s)
Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.
Apartment Market Stats — Burnaby
Monthly figures from the Fraser Valley Real Estate Board for Burnaby apartmentlistings — not specific to this property.
MLS® HPI Benchmark Price
$704,600
Jul 2026
Average Sale Price
$660,187
Jul 2026
Monthly Sales
170
Jul 2026
Active Listings
1,097
Jul 2026
Sales-to-Active Ratio
16.0%
Jul 2026
Median Days to Contract
30 days
Jul 2026
MLS® HPI Benchmark Price
Source: Fraser Valley Real Estate Board (FVREB).
Location Insights
Weather
Nearest station: Vancouver
17°C
Clear
Humidity 100%
Wind WNW 13 km/h
Tonight
14°
Tuesday
20°
Tuesday night
15°
Wednesday
19°
Wednesday night
14°
Thursday
17°
Source: Environment and Climate Change Canada.
Population
249,125
(2021 Census)
+7% since 2016
Density: 2,750.6/km²
Dwellings: 107,046
Median household income: $83,000
After-tax: $73,500
Immigrant population: 50.4%
Top countries of origin (% of total population)
- China12.4% · 30,860
- Philippines4.5% · 11,235
- Hong Kong4.4% · 11,010
- Taiwan3.1% · 7,750
- India3% · 7,540
- Korea, South2.6% · 6,380
- Viet Nam1.4% · 3,380
- Iran1.3% · 3,210
Source: Statistics Canada, 2021 Census of Population.
Location Accessibility
Our own metric — not an official Walk Score®.
Amenities
78
8/9 categories nearby
Transit
33
5 stop(s) within 800m
How this is calculated
Amenities: points awarded per category (restaurants, cafes, grocery, parks, shopping, gyms, pharmacies, banks/ATMs, healthcare) based on distance to the nearest one — 3 points under 200m, 2 points under 500m, 1 point under 800m — summed across all 9 categories and scaled to 0–100.
Transit: based on the number of transit stops within 800m and their mode (SkyTrain weighted highest, then streetcar/ferry, then bus). This reflects stop type and count only — our data doesn't include how often a route actually runs, so frequency is never factored in.
Both scores depend on how much of the surrounding area has been synced from OpenStreetMap and TransLink's GTFS feed. A lower score can mean fewer amenities nearby, or simply that this area hasn't been fully synced yet — not a confident measurement of the location itself.
Nearby Schools
| School | Type | Distance |
|---|---|---|
| Chaffey-Burke Elementary | Elementary | 485 m |
| École Inman Elementary | Elementary | 957 m |
| Maywood Community Elementary | Elementary | 1.3 km |
| École Marlborough Elementary | Elementary | 1.4 km |
| Moscrop Secondary | Secondary | 1.4 km |
| Dr H N Maccorkindale Elementary | Elementary | 1.4 km |
| Burnaby Youth Hub Secondary Program | Elementary | 1.5 km |
| Graham Bruce Community Elementary | Elementary | 1.6 km |
Schools shown by distance from this property. This does not indicate school catchment or enrollment eligibility — contact the school district to confirm catchment boundaries.
Nearby Transit
| Stop | Type | Distance |
|---|---|---|
| Westbound Kingsway @ Barker Ave | — | 58 m |
| Eastbound Kingsway @ Olive Ave | — | 77 m |
| Eastbound Kingsway @ Patterson Ave | — | 147 m |
| Northbound Patterson Ave @ Kingsway | — | 148 m |
| Southbound Patterson Ave @ Kingsway | — | 166 m |
Nearby Places
Restaurants (5+)
- Big Way Hotpot · 4250 Kingsway100 m
- Pizza Hut · 4287 Kingsway110 m
- Pho 24 Express · 4250 Kingsway115 m
- Bubble World · 4300 Kingsway128 m
- Tairyou ichiba · 4300 Kingsway136 m
Cafes (5+)
- Waves Coffee House · 4250 Kingsway63 m
- Macu Tea · 4429 Kingsway342 m
- Starbucks437 m
- Chicha San Chen · 4501 Kingsway487 m
- Matcha Tea Lab · 4500 Kingsway503 m
Grocery (2)
- Save-On-Foods · 4469 Kingsway435 m
- PriceSmart Foods · 4650 Kingsway696 m
Parks (5+)
- Unnamed · 5848 Olive Avenue101 m
- Old Orchard Park377 m
- George McLean Park476 m
- Burnaby Civic Square545 m
- Kinnee Park572 m
Shopping (1)
- Unnamed · 4500 Kingsway509 m
Gyms (5+)
- She's Fit85 m
- Lin Spa · 4500 Kingsway471 m
- GoodLife Fitness · 4501 Kingsway496 m
- Crystal Point500 m
- Vivian Beauty Spa · 4500 Kingsway566 m
Pharmacies (5+)
- The Medicine Shoppe · 4277 Kingsway76 m
- Shoppers Drug Mart · 4429 Kingsway407 m
- Enhance RX · 3965 Kingsway468 m
- Central Park Pharmacy · 3963 Kingsway474 m
- Crystal Pharmacy · 4500 Kingsway559 m
Banks & ATMs (5+)
- Scotiabank · 4299 Kingsway196 m
- Scotiabank198 m
- RBC · 4370 Kingsway302 m
- Unnamed512 m
- CTBC Bank · 4501 Kingsway547 m
Nearby places data: © OpenStreetMap contributors.
School district: Burnaby (SD41)
Other Listings in This Building
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1106 5885 OLIVE AVENUE, Burnaby
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Financial Ledger
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Financial Summary
Cash Needed at Closing
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Verify all figures with a mortgage broker and lawyer before relying on them.