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Rare opportunity to own a short-term rental-friendly property in the heart of Downtown Vancouver. Welcome to The Lex on Granville, a standout investment opportunity where Airbnb and all rental types are permitted. This bright and efficiently designed 1 Bed + Den offers 538 sq ft of functional open-concept living, complete with a versatile flex space ideal for a home office or owner storage. Located just steps from Skytrain, restaurants, entertainment, shopping, and everyday conveniences, this prime downtown location attracts strong year-round demand. Whether you're looking to generate short-term rental income, or own a downtown home with exceptional flexibility, this property offers a rare combination of location, value, and income potential. Book your private showing today!
| Basement Finished Area (sqft) | 0 |
|---|---|
| Basement Features | None |
| Appliances Included | Washer/Dryer, Dishwasher, Refrigerator, Stove, Microwave |
| Interior Features | Elevator |
| Heating Type | Baseboard, Electric |
| Laundry | In Unit |
| # of Kitchens | 1 |
| Flooring | Laminate, Tile |
| Foundation | Block |
| Exterior Features | No Outdoor Area |
|---|---|
| View Description | City |
| Roof | Other |
| Structures | Multi Family, Residential Attached |
| Price | $499,000 |
|---|---|
| Total Bedrooms | 1 |
| Total Bathrooms | 1 |
| Full Bathrooms | 1 |
| Half Bathrooms | 0 |
| Floor Area Total (sqft) | 538 |
| Year Built | 2003 |
| Age Of Building | 23 |
| Building Type | Apartment/Condo |
| Property Type | Residential |
| Stories | 1 |
| Building Amenities | Exercise Centre, Trash, Maintenance Grounds, Hot Water, Management, Recreation Facilities, Sewer, Snow Removal |
| Building Name | The Lex |
| Ownership Type | Freehold Strata |
| Maintenance Fee | $327.17 |
| Community Features | Shopping Nearby |
| Amenities Nearby | Exercise Centre, Trash, Maintenance Grounds, Hot Water, Management, Recreation Facilities, Sewer, Snow Removal |
| Utility Type | Electricity Connected, Water Connected |
| Utility Sewer | Public Sewer, Sanitary Sewer, Storm Sewer |
| Water (WaterSource) | Public |
| Parking Type | None |
| Total Parking Spaces | 0 |
| Strata Restrictions | Pets Allowed w/Rest.,Rentals Allowed |
| Pet Restrictions | Cats OK, Dogs OK, Number Limit (Two), Yes With Restrictions |
| Rental Restrictions | 100 |
| Units In Development | 45 |
| MLS® # | R3131193 |
|---|---|
| Area | Vancouver West |
| Neighbourhood | Downtown VW |
| City | Vancouver |
| Postal Code | V6Z 1M5 |
| Gross Taxes | $1,705.7 |
| Zoning | DD |
| Floor | Type | Dimensions |
|---|---|---|
| Main Level | Foyer | 6'1 x 6'1 ft |
| Main Level | Den | 5'3 x 5'3 ft |
| Main Level | Bedroom | 10'1 x 10'1 ft |
| Main Level | Kitchen | 13'0 x 13'0 ft |
| Main Level | Living Room | 14'2 x 14'2 ft |
| Main Level | Dining Room | 6'11 x 6'11 ft |
| Floor | Ensuite | Pieces |
|---|---|---|
| Main Level | No | #4 |
Listed by: Prompton Real Estate Services Inc.
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
507 1249 Granville Street has a sell-speed score of 49/100, placing it in the "Expected to sell at a moderate pace" band. The listing is priced 2.2% above comparable active properties in Downtown VW. Based on these signals, EstateBlock predicts this listing is may take several weeks to attract serious offers.
Natural hazards vary by location and can change over time. The following provides a summary of potential impacts to this area, postal code V6Z 1M5, 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 5.1 µg/m³ — meets Canada's CAAQS (BC ENV 2024). Nearest station: Vancouver Clark Drive, Vancouver (~4 km). Annual avg AQHI 2.2 — Low Risk.
Vancouver currently sees ~1 days above 30 °C per year (1981–2010 baseline), projected to rise to ~6 by the 2050s (SSP2-4.5 moderate emissions). Hottest day of the year: ~29.7 °C baseline, ~32 °C projected. Tropical nights (>18 °C): ~0 baseline, ~4 projected.
Annual precipitation ~1515 mm (1981–2010 baseline), projected ~1575 mm by the 2050s. Extreme 1-day rainfall: ~50.5 mm baseline, ~57 mm projected. Values vary modestly across the Lower Mainland.
Longest annual dry spell (consecutive dry days): ~22 days baseline, ~24 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
507 1249 Granville St, Vancouver, BC is ideally located for commuters. The property is 0.4 km from Yaletown-Roundhouse, with a 12 min SkyTrain ride to Downtown Vancouver (Waterfront Station). The closest bus stop is Southbound Granville St @ Davie St (0.02 km). Walk Score Transit rating: Rider's Paradise (97/100).
| Year | Land | Improvements | Total Assessed | YOY Change |
|---|---|---|---|---|
| 2026 | $351,000 | $161,000 | $512,000 |
-6.4%
|
| 2025 | $375,000 | $172,000 | $547,000 |
+1.1%
|
| 2024 | $371,000 | $170,000 | $541,000 |
+6.7%
|
| 2023 | $340,191 | $167,000 | $507,191 |
+14.0%
|
| 2022 | $292,000 | $153,000 | $445,000 | — |
Based on 236 comparable active apartments/condos in Downtown VW, the average asking price is $611,942. This listing is priced 18.5% below the neighbourhood average.
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