Home Burnaby, BC Metrotown The Metropolitan 501 5885 Olive Avenue

501 5885 Olive Ave, Burnaby BC - Apartment/Condo for Sale - MLS# R3113590

139 days on the market

$683,000

Est. Mortgage $3,022/mo

Listing updated: Jul 23, 2026 at 06:14pm

EstateBlock checked: Sep 5, 2026 at 11:20pm

2 Beds

2 Baths

1183 sqft

577 $ /sqft

534.09 $ Maint. fee

1990 built

18.3% cheaper than comps

139 days on the market

$683,000

Est. $3,022/mo with 20% down

Listing updated: Jul 23, 2026 at 06:14pm

EstateBlock checked: Sep 5, 2026 at 11:20pm

Photos

Exterior Front Photo of 501 5885 Olive Avenue, Burnaby, BC

Exterior Rear Photo of 501 5885 Olive Avenue, Burnaby, BC

Living Room Photo of 501 5885 Olive Avenue, Burnaby, BC

Family Room Photo of 501 5885 Olive Avenue, Burnaby, BC

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.

Interior Features

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

Exterior Features	Balcony
Roof	Other
Structures	Multi Family, Residential Attached

Building Details

Price	$683,000
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 & Land

Lot Size Depth	Feet
MLS^® #	R3113590
Area	Burnaby South
Neighbourhood	Metrotown
City	Burnaby
Postal Code	V5H 4N8
Gross Taxes	$2,280.38
Zoning	CD

Property Timeline

Status	Date	Price
R3113590 / Active	04-20-2026	$683,000

Rooms

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

Bathrooms

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.

Map & Neighbourhood

Public Schools

Elementary
Chaffey-Burke Elementary School: Above Average 0.45 km 7.1/10
Secondary
Moscrop Secondary School: Above Average 1.36 km 7.4/10

Information includes BC Government Open License data; school details change often and are offered solely as general guidance.

Private Schools

Elementary
Vancouver Christian School: Above Average 2.88 km 9.1/10
Secondary
Whytecliff Agile Learning Centre-Burnaby: Above Average 2.6 km 10/10

Closest Transit

Bus Stop
Westbound Kingsway @ Barker Ave: 0.06 km
Skytrain
Skytrain @ Patterson Stn: 0.27 km

Crime Rate

Total Crime Rate: Below Average
Violent Crime Rate: Low
Property Crime Rate: Average

Demographics

Post-Secondary Education: Above Average 41.1%
No Certificate/Degree: Below Average 8.3%
Owner Occupied: Below Average 38.9%
Employment Rate: Average 56.1%

Noise/ Power Lines

Road/Hwy Noise: Possible
Railway/Sky train Noise: Unlikely
Airport/Port Noise: Unlikely
Close to major Power Lines: Unlikely

Other

Agricultural Land Reserve (ALR): Unlikely
Flood Area: Unlikely
Close to Cemeteries: Unlikely

Sell Speed & Competition

71 / 100

Overall sell-speed score

Likely within weeks

Price competition grade

Avg comparable: $807,989

Balanced

Market conditions

Balanced market — steady conditions

Flood Risk (FEMA/BC)

Unlikely — not in floodplain

Railway / Skytrain noise

Unlikely — 0.27 km from station

Road / Highway noise

Possible — major road nearby

Airport noise (YVR)

Unlikely

Power lines proximity

Unlikely

ALR (Agricultural Land Reserve)

No — not in ALR

How METROTOWN compares

This property

139 DOM

Slower than area

Metrotown avg

44 DOM

Average

Burnaby avg

44 DOM

Faster market

501 5885 Olive Avenue has a sell-speed score of 71/100, placing it in the "Expected to sell within weeks" band. The listing is priced 18.3% below comparable active properties in Metrotown, which is a strong competitive signal. The local market is currently a Balanced Market with a sales-to-active ratio of 16.2% and an area average of 44 days on market — conditions are balanced. With only 506 competing homes currently listed, this property has significant competition. Based on these signals, EstateBlock predicts this listing is likely to sell within a few weeks.

Climate Risk for V5H 4N8

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).

Flood Lower Risk

Outside of designated flood hazard zones. Under 10% of buildings in this area have flood risk over the next 30 years.

Fire Low

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.

Air Quality A / Excellent

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.

Heat Moderate

Burnaby currently sees ~1 day 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.

Precipitation Increasing

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.

Drought Stable

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.

Nearby Restaurants, Cafes & Shops

Shopping (157 nearby)

The medicine shoppe · 76 m · Pharmacy
Hair city · 87 m · Hairdresser
Shi nail blue · 93 m · Beauty Shop

Restaurants (108 nearby)

Big way hotpot · 100 m · Restaurant
Pizza hut · 109 m · Restaurant
Pho 24 express · 114 m · Restaurant

Cafes (32 nearby)

Waves coffee house · 63 m · Cafe
Macu tea · 341 m · Cafe
Starbucks · 436 m · Cafe

Groceries (16 nearby)

Amigos mios mexican & latino grocery store · 349 m · Convenience
Bc liquor store · 369 m · Beverages
Save-on-foods · 433 m · Supermarket

Healthcare (8 nearby)

The medicine shoppe · 76 m · Healthcare
Shoppers drug mart · 405 m · Healthcare
Enhance rx · 467 m · Healthcare

Transit (3 nearby)

Skytrain @ patterson stn station · 272 m · Transit
Skytrain @ metrotown stn station · 831 m · Transit
Bus stop westbound kingsway @ boundary rd · 848 m · Transit

Schools NearBy

29 Schools are within 3km

School	Type	Grades Served	Catchment Info	Rating	Distance
Chaffey-Burke Elementary School	Public	Grades Served K-7	Catchment Info In Catchment	7.1 / 10	Distance 455 m
École Inman Elementary	Public	Grades Served K-7	Catchment Info —	6.8 / 10	Distance 902 m
Moscrop Secondary School	Public	Grades Served 8-12	Catchment Info In Catchment	7.4 / 10	Distance 1.36 KM
Burnaby Youth Hub Secondary Program	Public	Grades Served —	Catchment Info —	2.7 / 10	Distance 1.49 KM
Dr. H. N. MacCorkindale Elementary School	Public	Grades Served K-7	Catchment Info —	6.4 / 10	Distance 1.52 KM
Graham Bruce Community Elementary School	Public	Grades Served K-7	Catchment Info —	6.1 / 10	Distance 1.64 KM
Collingwood Neighbourhood School	Public	Grades Served K-3	Catchment Info —	0	Distance 1.66 KM
Champlain Heights Community Elementary School	Public	Grades Served K-7	Catchment Info —	5.5 / 10	Distance 1.73 KM
Cascade Heights Elementary	Public	Grades Served K-7	Catchment Info —	6.7 / 10	Distance 1.77 KM
BC Provincial School For The Deaf Elementary	Public	Grades Served —	Catchment Info —	6.2 / 10	Distance 1.77 KM
South Slope Elementary School	Public	Grades Served K-7	Catchment Info —	6.9 / 10	Distance 1.78 KM
Suncrest Elementary School	Public	Grades Served K-7	Catchment Info —	7.4 / 10	Distance 1.91 KM
Sir Wilfred Grenfell Community	Public	Grades Served —	Catchment Info —	6.0 / 10	Distance 2.15 KM
Nelson Elementary School	Public	Grades Served K-7	Catchment Info —	7.1 / 10	Distance 2.15 KM
Sir Wilfred Grenfell Community School	Public	Grades Served K-7	Catchment Info —	6.0 / 10	Distance 2.15 KM
Captain James Cook Elementary School	Public	Grades Served K-7	Catchment Info —	6.2 / 10	Distance 2.31 KM
Gilpin Elementary School	Public	Grades Served K-7	Catchment Info —	7.1 / 10	Distance 2.32 KM
Champlain Heights Annex	Public	Grades Served K-3	Catchment Info —	0	Distance 2.44 KM
Burnaby South Secondary	Public	Grades Served —	Catchment Info —	5.2 / 10	Distance 2.53 KM
Killarney Secondary School	Public	Grades Served 8-12	Catchment Info —	6.3 / 10	Distance 2.59 KM
Whytecliff Agile Learning Centre-Burnaby	Independent	Grades Served —	Catchment Info —	10.0 / 10	Distance 2.60 KM
Windermere Community Secondary School	Public	Grades Served 8-12	Catchment Info —	6.3 / 10	Distance 2.64 KM
Renfrew Community Elementary School	Public	Grades Served K-7	Catchment Info —	6.6 / 10	Distance 2.70 KM
Douglas Road Elementary	Public	Grades Served —	Catchment Info —	6.2 / 10	Distance 2.83 KM
Burnaby Central Secondary	Public	Grades Served —	Catchment Info —	6.6 / 10	Distance 2.83 KM
Windsor Elementary School	Public	Grades Served K-7	Catchment Info —	5.5 / 10	Distance 2.84 KM
Vancouver Christian School	Independent	Grades Served K-6	Catchment Info —	9.1 / 10	Distance 2.88 KM
Vancouver Christian	Independent	Grades Served —	Catchment Info —	9.1 / 10	Distance 2.88 KM
Anne-Hebert	Public	Grades Served —	Catchment Info —	7.6 / 10	Distance 2.93 KM

Pre-computed routes from 501 5885 Olive Ave, Burnaby, BC

501 5885 Olive Ave, Burnaby, BC Patterson 0.3 km

23 min

Downtown Vancouver Waterfront Station

By transit (Skytrain)

Downtown Vancouver via Patterson → Waterfront
23 min
Metrotown, Burnaby via Patterson → Metrotown
7 min
SFU Burnaby via Patterson → Production Way
27 min
Richmond Centre via Patterson → Brighouse
48 min
YVR Airport via Patterson → YVR-Airport
49 min

By car (off-peak)

Downtown Vancouver via HWY 1 / Grandview
11 min
Metrotown, Burnaby via Lougheed Hwy
1 min
SFU Burnaby via Gaglardi Way
9 min
Richmond Centre via No. 3 Rd
14 min
YVR Airport via Bridgeport / Sea Island
16 min

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).

Walkability & Transit Near 501 5885 Olive Avenue

Car-Dependent 95

Walk Score - Walker's Paradise

Daily errands do not require a car

Some Transit 87

Transit Score - Excellent Transit

Transit is convenient for most trips

Somewhat
Bikeable 78

Bike Score - Very Bikeable

Biking is convenient for most trips

Mortgage Calculator for 501 5885 Olive Avenue

Home Price

Down Payment

Down Payment (percent)

Interest Rate

Loan Type

/month

Principal & Interest

Property Taxes $190

Maintenance fee 534.09

A 20% down payment of $136,600 on this $683,000 listing yields an estimated mortgage of $2,609/month (30-year fixed, 4%). Total estimated housing cost: $3,333/month, $190 property tax, $534 maintenance fee.

or Call 778-918-5990

All figures are informational estimates by EstateBlock.com; actual mortgage payments and insurance rates vary by many factors.

Listing data last synced: Jul 23, 2026

Investment Cashflow Calculator

Property Tax (Monthly)

Basic Insurance Cost

Maintenance Fee

Rental Income

Vacancy Rate

Down Payment

Down Payment (percent)

/month

Mortgage Payment

Monthly Payment

Break Even Down Payment 0%

Cap Rate

Cash on Cash

With $2,424/month in estimated rental income against $3,389/month in mortgage payments, the monthly cashflow is -$965/month. A 50% down payment would reach break-even.

All figures are informational estimates by EstateBlock.com; actual mortgage payments and insurance rates vary by many factors.

Estateblock Rent Estimate for 501 5885 Olive Avenue, Burnaby

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Approximate estimates for informational purposes only, not financial advice. Assumes a new 30-year fixed mortgage at the rate shown; actual rent, payments, and equity will vary by loan terms and market conditions. Consult a licensed professional before deciding.