Ownership
Prepaid leasehold, explained
This home is a prepaid strata leasehold, with a lease running to 2071. That's why you can own 1,149 sq ft with a private garden in Kitsilano at this price: in my experience, homes like this trade at more than 20% below similar freehold. You can put the difference to work elsewhere, or simply get a lot more home for the same money.
- The lease is prepaid, so there are no monthly land-lease payments.
- Conventional financing is available through select lenders.
- You pay strata fees and property taxes, as with any condo.
With about 45 years left on the lease, I don't expect expiry to have a real effect on values for at least another 15 years. I'm happy to walk you through the lease summary and the lenders who work with it.
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For investors
A Kitsilano rental that nearly carries itself
Leasehold pricing changes the math. This should rent like any well-located West Side two-bedroom-plus-den, and at this price the rent covers most of the carrying cost while your tenant pays down the mortgage. Try your own numbers.
- Cash flow / month
- Principal paid down / month
- Cash flow + paydown / month
- Cap rate
- Cash in (incl. transfer tax)
Illustration only, not a forecast or advice. Assumes a 30-year amortization, a 3% vacancy allowance, strata $681/mo, 2025 property taxes, ~$1,500/yr for insurance and upkeep, and BC property transfer tax plus ~$2,000 in legal costs. Rents reflect October 2026 Kitsilano listings for similar 2-bed, 2-bath homes. Principal paydown is year one. Confirm financing terms with your own mortgage broker, and tax treatment with your accountant. I represent the seller.