603 501 Pacific St, Vancouver, BC, MLS^® R3088476

Welcome to 603 501 Pacific Street, a vibrant and desirable property located in the heart of Vancouver, BC. As your trusted realtor, I'm excited to guide you through the features and benefits of this incredible home, which boasts MLS^® R3088476.

Let's start with the schools. Your children will thrive in the nearby Elsie Roy Elementary School, rated 6.1/10, and conveniently located just 0.42 km away from this property. King George Secondary School is also nearby, with a rating of No Rating, and situated 1.86 km from this home. Families love this area because of the excellent educational opportunities and short commute times.

In terms of safety, this neighborhood has an overall crime rate of 7,470.82, which is Average compared to other Canadian cities. However, the rate has seen a commendable year-over-year decrease of -14.94%. According to Statistics Canada's 2020 report, there were 52,217 disturbances in the area. While there are some property crimes, the rate is Above Average, with 35,089 incidents reported in 2020. Nevertheless, the violent crime rate is Below Average, with 1,311.69 incidents reported, and a 3.53% year-over-year increase.

This home's proximity to public transportation is another significant advantage. The Westbound Pacific St @ Richards St bus station is just 0.07 km away, making it an ideal location for those who rely on public transit.

Now, let's talk about the community. The neighborhood surrounding 603 501 Pacific Street is a melting pot of cultures, with 47% of residents holding a university certificate or degree, which is High compared to other BC neighborhoods. In contrast, 4.8% of the population has no certificate or degree, which is Low compared to the average in BC.

In terms of economic indicators, the median household income is $55,936, which is Below Average compared to the British Columbia average. However, the median personal income is $40,817, which is Above Average. A significant proportion of households in this area, 72.8%, have a mortgage, which is High.

Unemployment rates in this area are also impressive, with a rate of 5.9%, which is Below Average compared to other province neighborhoods.

The real estate market in this area is highly sought after, with an average dwelling value of $705,201, which is High compared to other areas in British Columbia. The average owner payments are also High, with owners spending an average of $1,746 per month. Tenants, on the other hand, pay an average of $1,369 per month, which is High compared to other cities.

Demographically, this neighborhood is characterized by a high proportion of renters, with 65.6% of the population renting their homes, which is High compared to other BC cities and areas. The majority of residents, 86%, speak only English, which is Below Average. However, 12% of the population speaks both English and French, which is Above Average.

Finally, the neighborhood is highly pedestrian-friendly, with 41.7% of the population walking to their destinations, which is High. The use of public transportation is also popular, with 26% of the population relying on buses, trains, or other forms of public transit, which is High. Car usage is relatively low, at 27.2%, while 3.2% of residents use bicycles, which is High.

In conclusion, 603 501 Pacific Street, Vancouver, BC, MLS^® R3088476, is an exceptional property that offers a unique blend of convenience, safety, and community amenities. I invite you to schedule a viewing and experience the best of Vancouver living for yourself.