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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.
| Basement Finished Area (sqft) | 0 |
|---|---|
| Basement Features | None |
| Appliances Included | Washer/Dryer, Dishwasher, Disposal, Refrigerator, Stove |
| Interior Features | Storage |
| Fireplace | 0 |
| Heating Type | Electric |
| Laundry | In Unit |
| # of Kitchens | 1 |
| Foundation | Concrete Perimeter |
| Exterior Features | Balcony |
|---|---|
| Roof | Other |
| Structures | Multi Family, Residential Attached |
| Price | $738,000 |
|---|---|
| Total Bedrooms | 2 |
| Total Bathrooms | 2 |
| Full Bathrooms | 2 |
| Half Bathrooms | 0 |
| Floor Area Total (sqft) | 1183 |
| Year Built | 1990 |
| Age Of Building | 36 |
| Building Type | Apartment/Condo |
| Property Type | Residential |
| Stories | 1 |
| Building Amenities | Recreation Facilities, Sauna/Steam Room, Caretaker, Trash, Maintenance Grounds, Hot Water, Management |
| Ownership Type | Freehold Strata |
| Maintenance Fee | $534.09 |
| Amenities Nearby | Recreation Facilities, Sauna/Steam Room, Caretaker, Trash, Maintenance Grounds, Hot Water, Management |
| Utility Type | Electricity Connected |
| Utility Sewer | Public Sewer |
| Water (WaterSource) | Public |
| Parking Type | Underground, Garage Door Opener |
| Total Parking Spaces | 1 |
| Strata Restrictions | Pets Allowed w/Rest.,Rentals Allwd w/Restrctns |
| Pet Restrictions | Yes With Restrictions |
| Lot Size Depth | Feet |
|---|---|
| MLS® # | R3113590 |
| Area | Burnaby South |
| Neighbourhood | Metrotown |
| City | Burnaby |
| Postal Code | V5H 4N8 |
| Gross Taxes | $2,280.38 |
| Zoning | CD |
| Floor | Type | Dimensions |
|---|---|---|
| Main Level | Living Room | 16'6 x 16'6 ft |
| Main Level | Dining Room | 8' x 8' ft |
| Main Level | Kitchen | 12' x 12' ft |
| Main Level | Laundry | 3' x 3' ft |
| Main Level | Bedroom | 10' x 10' ft |
| Main Level | Primary Bedroom | 12' x 12' ft |
| Floor | Ensuite | Pieces |
|---|---|---|
| Main Level | Yes | #4 |
| Main Level | No | #3 |
Listed by: Sutton Group - Vancouver First Realty & Sutton Group - Vancouver First Realty
NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Greater Vancouver REALTORS® which assumes no responsibility for its accuracy.
Public Schools
Information includes BC Government Open License data; school details change often and are offered solely as general guidance.
Private Schools
Closest Transit
Crime Rate
Demographics
Noise/ Power Lines
Other
501 5885 Olive Avenue has a sell-speed score of 41/100, placing it in the "May take longer than the area average to sell" band. The listing is priced 15.3% above comparable active properties in Metrotown. Based on these signals, EstateBlock predicts this listing is could take longer than the area average to sell.
Natural hazards vary by location and can change over time. The following provides a summary of potential impacts to this area, postal code V5H 4N8, over the next 30 years. Projections use the 2041–2070 period (2050s) under a moderate emissions scenario (SSP2-4.5).
Outside of designated flood hazard zones. Under 10% of buildings in this area have flood risk over the next 30 years.
Located within the "Vancouver" WUI zone (Risk Class 5 — Low). Based on BC Wildfire Service provincial WUI Risk Class mapping; not a site-specific assessment.
Annual avg PM2.5 4.4 µg/m³ — meets WHO 2021 guideline (BC ENV 2024). Nearest station: Burnaby South, Burnaby (~2.6 km). Annual avg AQHI 2.2 — Low Risk.
Burnaby currently sees ~1 days above 30 °C per year (1981–2010 baseline), projected to rise to ~7 by the 2050s (SSP2-4.5 moderate emissions). Hottest day of the year: ~30 °C baseline, ~32.4 °C projected. Tropical nights (>18 °C): ~0 baseline, ~3 projected.
Annual precipitation ~1393 mm (1981–2010 baseline), projected ~1445 mm by the 2050s. Extreme 1-day rainfall: ~47.8 mm baseline, ~53.3 mm projected. Values vary modestly across the Lower Mainland.
Longest annual dry spell (consecutive dry days): ~24 days baseline, ~25 days projected for the 2050s. CDD is used as a regional drought proxy; drought risk varies modestly across the Lower Mainland.
| School | Type | Grades Served | Catchment Info | Rating | Distance |
|---|---|---|---|---|---|
Calculate your commute
501 5885 Olive Ave, Burnaby, BC is ideally located for commuters. The property is 0.3 km from Patterson, with a 23 min SkyTrain ride to Downtown Vancouver (Waterfront Station). The closest bus stop is Westbound Kingsway @ Barker Ave (0.06 km). Walk Score Transit rating: Excellent Transit (87/100).
Based on 25 comparable active apartments/condos in Metrotown, the average asking price is $775,600. This listing is priced 4.8% below the neighbourhood average.
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