"What's with those low PRICES?": Understanding the value of Musqueam Leasehold

Home is an expense FIRST, and an investment SECOND

With this quote in mind, it's easier to understand the unique value proposition of these properties (prepaid and non-prepaid Musqueam Leasehold houses). 

*SCROLL DOWN TO VIEW CURRENTLY AVAILABLE HOMES*

By purchasing this type of ownership, it's reasonable to think of it as creating your own flexible-term decades-long tenancy at a somewhat 'fixed' and inflation-protected low rental rate.  This means potentially massively lower downpayments and monthly payments versus what is typically needed to purchase and own a similar 'Freehold' home in Vancouver.  The suggestion is that this creates significant opportunity for investing elsewhere (call me biased, but how about cash-flowing investment real estate...)

How does it work? Well, this depends on whether you're purchasing 'prepaid' or 'non-prepaid' leasehold. Let's break down the differences:

  • Prepaid Section: south of the Shaughnessy Golf and Country Club, along Yuculta and Staulo Crescent, Musqueam Drive, and the west side of 6303 to 6598 Salish Drive. The leases here all expire in 2073 with NO monthly or annual lease payment, as they have all been 'prepaid'. You will pay annual property taxes that are roughly in line with what a similar freehold property on the westside would pay. Numerous major banks will conventially finance these with similar terms to those offered on freehold properties. Price ranges for these properties in the early 2020's range from about $1.1m to $2m.
  • Non-prepaid Section: between the golf club and S.W. Marine Drive, along Salish Drive (4107 to 4450) and on 5 crescents (Halss, Tytahun, Tamath, Sennok, and Semana), plus along Kullahun Drive. The leases here all expire in 2064 with annual lease payments of roughly $22,000 to $28,000. You will also pay annual property taxes as the Prepaid section does. HISTORICALLY, getting conventional financing has been very difficult; however, I have personal experience obtaining this, so do ask me how one may qualify if curious. Prices for these properties in the early 2020's have ranged from about $500k to as high as $1.7m.
*NOTE: there are only a few hundred homes in this very unique neighborhood, therefore it is not unusual to see no active listings at times. Please reach out for a list of recently sold homes if you would like to get an idea of current market prices.

Prepaid and Non-Prepaid Leasehold houses at UBC

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  • 1203 5728 Berton Avenue in Vancouver: University VW Condo for sale (Vancouver West) : MLS®# R3002744

    1203 5728 Berton Avenue University VW Vancouver V6S 0E5
    Main Photo: 1203 5728 Berton Avenue in Vancouver: University VW Condo for sale (Vancouver West)  : MLS®# R3002744
    $859,000
    Residential
    Status:
    Active
    MLS® Num:
    R3002744
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    596 sq. ft.
    Welcome to "Academy," ideally situated in the vibrant heart of UBC's Wesbrook Village. This bright, south-facing unit boasts soaring 9-foot ceilings and a smart, open-concept layout with no wasted space. It offers a generously sized bedroom with a semi-ensuite bathroom, a separate den perfect for a home office or study, and a large covered balcony ideal for year-round enjoyment. The home also includes one parking stall and a storage locker. Just a short walk to U-Hill Secondary and Norma Rose Elementary, this property is a must-see! More details
    Listed by Metrowest Building Services
    ERIC COULOMBE
  • 701 3487 Binning Road in Vancouver: University VW Condo for sale (Vancouver West) : MLS®# R3002955

    701 3487 Binning Road University VW Vancouver V6S 0K8
    Main Photo: 701 3487 Binning Road in Vancouver: University VW Condo for sale (Vancouver West)  : MLS®# R3002955
    $1,358,000
    Residential
    Status:
    Active
    MLS® Num:
    R3002955
    Bedrooms:
    3
    Bathrooms:
    2
    Floor Area:
    1,055 sq. ft.
    UBC - Eton by Polygon, a prestigious park side tower at UBC's Wesbrook Village, steps to Pacific Spirit Regional Park, Westbrook Mall shopping & other facilities. SOUTHWEST facing home with spacious & functional layout features 3 beds & 2 baths, A/C, Bosch appliances, a stylish kitchen and a generous deck. Master Bed is located at the opposite end of the home to maximize privacy, enjoying the convenience of double sinks and a generous walk-in closet in the ensuite. Catchment with top schools: University Bill Elementary and Secondary. Pet and Rental allowed. Fixed Rental term to June 20 2025, must see! More details
    Listed by Luxmore Realty
    ERIC COULOMBE
  • 1001 5728 Berton Avenue in Vancouver: University VW Condo for sale (Vancouver West) : MLS®# R3003041

    1001 5728 Berton Avenue University VW Vancouver V6S 0E5
    OPEN HOUSE: May 17, 2025
    02:00 PM - 04:00 PM PDT
    Open House on Saturday, May 17, 2025 2:00PM - 4:00PM
    OPEN HOUSE: May 18, 2025
    02:00 PM - 04:00 PM PDT
    Open House on Sunday, May 18, 2025 2:00PM - 4:00PM
    Main Photo: 1001 5728 Berton Avenue in Vancouver: University VW Condo for sale (Vancouver West)  : MLS®# R3003041
    $999,000
    Residential
    Status:
    Active
    MLS® Num:
    R3003041
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    883 sq. ft.
    Welcome to Academy by Polygon, a prestigious residence nestled in the heart of UBC’s Wesbrook Village. This bright and spacious 2-bedroom, 2-bathroom home boasts a desirable southeast exposure with serene greenbelt views, ideal for soaking in morning light and enjoying peaceful surroundings. Thoughtfully designed with an open-concept layout, it features a modern kitchen with premium appliances, generously sized bedrooms with ample closet space, and a private balcony perfect for relaxation. Just steps from Pacific Spirit Regional Park, you'll enjoy endless opportunities for outdoor exploration. Conveniently located within walking distance to shops, restaurants, and daily essentials. Come home to a new standard of comfort in a truly exceptional setting.Offers are to be emailed BY MAY 27,2025 More details
    Listed by Nu Stream Realty Inc.
    ERIC COULOMBE
  • 302 6080 Iona Drive in Vancouver: University VW Condo for sale in "Stirling House" (Vancouver West) : MLS®# R3003317

    302 6080 Iona Drive University VW Vancouver V6T 0A4
    Main Photo: 302 6080 Iona Drive in Vancouver: University VW Condo for sale in "Stirling House" (Vancouver West)  : MLS®# R3003317
    $1,999,000
    Residential
    Status:
    Active
    MLS® Num:
    R3003317
    Bedrooms:
    3
    Bathrooms:
    4
    Floor Area:
    1,949 sq. ft.
    Look no further if you are looking for a condo that feels like a single family home! This spacious 1949 SF, 3 bedroom + 4 bathroom (3 en-suites) features H/W floors, heating + cooling system, imported Italian Varenna design cabinets, large pantry, Sub-Zero fridge & wine cooler, Miele gas cooktop, wall oven & warming drawer, Fisher Paykel dual dishwashers, limestone countertop + Quartz stone countertops, flat painted ceilings thru-out, limestone surround gas fireplace, and 2 balconies. The BUILDING: The Executive Home Collection built by Intracorp and designed by Robert Ledingham features 39 exclusive homes. The AREA: Walking distance to U-Hill elementary & Secondary School, UBC campus, . BONUS: 2 car gated parking garage + 1 underground parking stall + 2 large storage lockers! More details
    Listed by Stilhavn Real Estate Services
    ERIC COULOMBE
  • 913 6138 Birney Avenue in Vancouver: University VW Condo for sale (Vancouver West) : MLS®# R3003538

    913 6138 Birney Avenue University VW Vancouver V6T 1W5
    $933,800
    Residential
    Status:
    Active
    MLS® Num:
    R3003538
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    592 sq. ft.
    Enjoy parkside living and a milieu of higher learning at Wordsworth by Polygon. Steps from the Pacific Spirit Park with majestic evergreen trees, this stylish tower offers light-filled interiors and views of the surrounding greenery, North Shore mountains, or the Salish Sea. Thoughtful designer details include a sleek kitchen featuring Bertazzoni appliances, and a large walk-in-closet that comes with organizers and LED lighting. As a Polygon TELUS Residential Smart Building, this 1 plus den home comes with keyless entry, smart home automation, smart parcel lockers and more for residents to enjoy elevated living. Visit our sales office at 6080 Gray Ave., Vancouver, open daily except Fridays. More details
    Listed by Polygon Realty Limited
    ERIC COULOMBE
  • 1506 6138 Birney Avenue in Vancouver: University VW Condo for sale (Vancouver West) : MLS®# R3003545

    1506 6138 Birney Avenue University VW Vancouver V6T 1W5
    $938,800
    Residential
    Status:
    Active
    MLS® Num:
    R3003545
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    590 sq. ft.
    Enjoy parkside living and a milieu of higher learning at Wordsworth by Polygon. Steps from the Pacific Spirit Park with majestic evergreen trees, this stylish tower offers light-filled interiors and views of the surrounding greenery, North Shore mountains, or the Salish Sea. Thoughtful designer details include a sleek kitchen featuring Bertazzoni appliances, and a large walk-in-closet that comes with organizers and LED lighting. As a Polygon TELUS Residential Smart Building, this 1 plus den home comes with keyless entry, smart home automation, smart parcel lockers and more for residents to enjoy elevated living. Visit our sales office at 6080 Gray Ave., Vancouver, open daily except Fridays. More details
    Listed by Polygon Realty Limited
    ERIC COULOMBE
  • 1501 6138 Birney Avenue in Vancouver: University VW Condo for sale (Vancouver West) : MLS®# R3003548

    1501 6138 Birney Avenue University VW Vancouver V6T 1W5
    $734,800
    Residential
    Status:
    Active
    MLS® Num:
    R3003548
    Bathrooms:
    1
    Floor Area:
    471 sq. ft.
    Welcome to Wordsworth by Polygon, where you will enjoy park tranquility and a milieu of higher learning. Ideally situated in the heart of UBC's Wesbrook Village in Vancouver's Point Grey neighbourhood, Wordsworth is a short walk from grocers, cafes, restaurants and other daily conveniences. Top ranking academic institutions for all ages are also nearby. This thoughtfully laid out floorplan features 9' ceilings, air-conditioned interiors, and a sleek kitchen appointed with Bertazzoni appliances. The large walk-in closet comes complete with custom shelving, drawers and lighting. Visit our sales office at 6080 Gray Ave., Vancouver, open daily except Fridays. More details
    Listed by Polygon Realty Limited
    ERIC COULOMBE
  • 12 6138 Birney Avenue in Vancouver: University VW Townhouse for sale (Vancouver West) : MLS®# R3003558

    12 6138 Birney Avenue University VW Vancouver V6T 1W5
    $2,238,000
    Residential
    Status:
    Active
    MLS® Num:
    R3003558
    Bedrooms:
    3
    Bathrooms:
    3
    Floor Area:
    1,565 sq. ft.
    The cityhomes at Wordsworth are thoughtfully designed to enrich everyday living at UBC. This beautiful community is steps from urban essentials, recreational amenities and educational institutions of the highest quality. This 3 bedroom home features a large patio on the ground floor and a generous deck just off of the main bedroom on the top level. The modern kitchen showcases brand name appliances to inspire you to spend quality time cooking and entertaining. As Polygon's first Telus Residential Smart building, a series of future-friendly features are also included. Visit our sales office at 6080 Gray Ave., Vancouver, open daily except Fridays. More details
    Listed by Polygon Realty Limited
    ERIC COULOMBE
  • 1003 6138 Birney Avenue in Vancouver: University VW Condo for sale (Vancouver West) : MLS®# R3003563

    1003 6138 Birney Avenue University VW Vancouver V6T 1W5
    $906,800
    Residential
    Status:
    Active
    MLS® Num:
    R3003563
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    533 sq. ft.
    Wordsworth by Polygon is a collection of homes immersed in the soothing environment of the UBC's Wesbrook Village. This tower rises from the edges of Mundell Park, one of several green spaces in the area named after a UBC Nobel scholar. Peaceful water features, verdant lawns and gathering plazas bring the community together. This west-facing home features 9' ceilings, Italian brand Bertazzoni appliances, a spa-inspired ensuite and a walk-in closet with custom shelving, drawers and lighting. As a Polygon TELUS Residential Smart Building, future-friendly features such as keyless entry, smart home automation and electronic parcel lockers are also included. Visit our sales office at 6080 Gray Ave., Vancouver. More details
    Listed by Polygon Realty Limited
    ERIC COULOMBE
  • 309 6138 Birney Avenue in Vancouver: University VW Condo for sale (Vancouver West) : MLS®# R3003571

    309 6138 Birney Avenue University VW Vancouver V6T 1W5
    $1,388,800
    Residential
    Status:
    Active
    MLS® Num:
    R3003571
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    896 sq. ft.
    Enjoy parkside living at Wordsworth by Polygon. Ideally situated in the heart of UBC's Wesbrook Village bordering Mundell Park, Wordsworth is steps from water features, verdant lawns and kids-friendly playgrounds. Designed by Francl Architecture, this coveted NE corner home comes with a view deck for outdoor living, and a sleek designer kitchen that comes with a large central island. The ensuite features dual sinks for added convenience. The generous walk-in-closet comes with organizers and LED lighting. Enjoy future-friendly features such as keyless entry and smart parcel boxes in addition to a concierge at the front desk. Visit our sales office at 6080 Gray Ave., Vancouver, open daily except Fridays. More details
    Listed by Polygon Realty Limited
    ERIC COULOMBE
  • 1311 6138 Birney Avenue in Vancouver: University VW Condo for sale (Vancouver West) : MLS®# R3003579

    1311 6138 Birney Avenue University VW Vancouver V6T 1W5
    $872,800
    Residential
    Status:
    Active
    MLS® Num:
    R3003579
    Bedrooms:
    1
    Bathrooms:
    1
    Floor Area:
    550 sq. ft.
    Enjoy nature-inspired living at Wordsworth by Polygon. Vancouver's award-winning firm Francl Architecture meticulously envisioned this 16-storey tower to complement the beautiful surroundings. This east-facing 1 bedroom home offers well-appointed spaces and future-friendly features. Sleek Bertazzoni appliances inspire you to spend quality time cooking and entertaining, while the spa-inspired ensuite offers a relaxing experience after a long day out. Lush landscaping by Hapa Collaborative integrates seating nooks, providing an ideal place to relax with a book. Enjoy easy access to UBC's beautiful greenway network and multitude of exceptional amenities. Visit our sales office at 6080 Gray Ave., Vancouver, open daily except Fridays. More details
    Listed by Polygon Realty Limited
    ERIC COULOMBE
  • 804 3533 Ross Drive in Vancouver: University VW Condo for sale in "The Residence At Nobel Park" (Vancouver West) : MLS®# R3002026

    804 3533 Ross Drive University VW Vancouver V6S 0L3
    Main Photo: 804 3533 Ross Drive in Vancouver: University VW Condo for sale in "The Residence At Nobel Park" (Vancouver West)  : MLS®# R3002026
    $1,428,000
    Residential
    Status:
    Active
    MLS® Num:
    R3002026
    Bedrooms:
    2
    Bathrooms:
    2
    Floor Area:
    1,042 sq. ft.
    Situated within the vibrant UBC Campus are The Residences at Nobel Park by Polygon, where you will find everything you need to pursue a higher level of living. Just down the street, a village square is animated by a growing mix of restaurants, boutique shops & services. This high-rise corner home, 2 bedrooms + Den + 2 balconies, includes premium appliances, kitchen with sleek cabinetry & marble accents. 9' ceilings, a spa inspired ensuite & A/C. Enjoy the convenience of an in-building fitness studio, a social lounge & a resident manager. School catchment: Norma Rose Point Elementary & U-Hill Secondary. More details
    Listed by Royal Pacific Realty Corp.
    ERIC COULOMBE
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Data was last updated May 16, 2025 at 04:10 AM (UTC)