Home Vancouver, BC Yaletown Governor'S Tower 507 388 Drake Street

507 388 Drake St, Vancouver BC V6B 6A8 – Condo for Sale – MLS® R3134359

507 388 Drake Street, Vancouver, British Columbia V6B 6A8

Vancouver Condos for Sale

153 days on the market

$849,000

Est. monthly cost $4,311/mo

Updated with MLS® - Nov 8, 2026 at 09:20pm

The Governor's Tower

2 Beds

2 Baths

832 sqft

1020 $ /sqft

662.78 $ Maint. fee

1994 built

Photos

YALETOWN LIVING AT ITS FINEST! Welcome to this bright and beautifully maintained residence located in the heart of one of Vancouver West’s most desirable communities. Featuring brand new flooring and fresh paint throughout, this turn-key home offers an exceptional urban lifestyle with an efficient, functional layout designed to maximize space and natural light. Steps away from the iconic seawall, world-class dining, boutique shopping, and the Yaletown-Roundhouse Skytrain station, convenience is truly at your doorstep. Perfect for urban professionals, first-time buyers, or savvy investors looking for a prime property in a highly sought-after concrete building. Move right in and enjoy!

Building 24 fields Inside & out 13 fields Lot & land 7 fields

Building Details

Price	$849,000
Total Bedrooms	2
Total Bathrooms	2
Full Bathrooms	2
Half Bathrooms	0
Floor Area Total (sqft)	832
Year Built	1994
Age Of Building	32
Building Type	Apartment/Condo
Property Type	Residential
Stories	1
Building Amenities	Bike Room, Recreation Facilities, Concierge, Caretaker, Trash, Maintenance Grounds, Gas, Hot Water, Management
Building Name	The Governor's Tower
Ownership Type	Freehold Strata
Maintenance Fee	$662.78
Community Features	Shopping Nearby
Amenities Nearby	Bike Room, Recreation Facilities, Concierge, Caretaker, Trash, Maintenance Grounds, Gas, Hot Water, Management
Utility Type	Electricity Connected, Water Connected
Utility Sewer	Community, Sanitary Sewer
Water (WaterSource)	Public
Parking Type	Garage Under Building, Guest, Side Access
Total Parking Spaces	1
Strata Restrictions	Pets Allowed w/Rest.,Rentals Allwd w/Restrctns
Pet Restrictions	Yes With Restrictions

Interior Features

Basement Finished Area (sqft)	0
Basement Features	None
Appliances Included	Washer/Dryer, Dishwasher, Refrigerator, Stove
Interior Features	Elevator
Heating Type	Baseboard, Radiant
Laundry	In Unit
# of Kitchens	1
Flooring	Laminate, Tile
Foundation	Block

Exterior Features

Exterior Features	No Outdoor Area
View Description	HEART OF YALETOWN
Roof	Other
Structures	Multi Family, Residential Attached

Lot & Land

MLS^® #	R3134359
Area	Vancouver West
Neighbourhood	Yaletown
City	Vancouver
Postal Code	V6B 6A8
Gross Taxes	$2,729.16
Zoning	CD-1

Property Timeline

Status	Date	Price
R3134359 / Active	06-08-2026	$849,000

Rooms

Floor	Type	Dimensions
Main Level	Kitchen	8'1 x 8'1 ft
Main Level	Dining Room	15'4 x 15'4 ft
Main Level	Living Room	15'4 x 15'4 ft
Main Level	Bedroom	12'7 x 12'7 ft
Main Level	Bedroom	12'4 x 12'4 ft
Main Level	Foyer	4'2 x 4'2 ft
Main Level	Storage	6'4 x 6'4 ft

Bathrooms

Floor	Ensuite	Pieces
Main Level	Yes	#3
Main Level	No	#4

Listed by: RE/MAX Crest 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.

About the building: Governor'S Tower

388 Drake Street, Yaletown, Vancouver

Governor'S Tower building details

Building

Built: 1995
Homes: 237
Construction: Concrete
Title: Freehold Strata
Strata plan: LMS1725
Managed by: First Service Residential
Parking: Garage: Underground
Lockers: Limited
Strata fee covers: Recreation FacilityManagementHot WaterHeatGardeningGarbage PickupCaretaker

Bylaws on record

Pets: Restricted; Cats and dogs OK, max 2
Rentals: Allowed

Market at Governor'S Tower

For sale: 6
Median ask: $1.19M
Median $/sqft: $1,004
Days on market: 122
Sold, past year: 7

This home

$1,020/sqft, 1.6% above the building median of $1,004.

Homes for sale at Governor'S Tower, Vancouver Recent sold listings in Governor'S Tower, Vancouver

From MLS® and public strata records. Verify against the current Form B and registered bylaws.

Map, sell speed & climate

SkyTrain 0.18 km · King George Secondary School 6.2/10 · 2 km · crime average · sell-speed score 55/100 (moderate pace) · flood lower risk · wildfire low

Map & area Sell speed Climate risk

Map & Neighbourhood

Nearby Restaurants, Cafes & Shops

Restaurants (259 nearby)

Ki isu japanese restaurant · 73 m · Restaurant
Alchemy · 83 m · Restaurant
Panago · 86 m · Fast Food

Shopping (243 nearby)

Posy · 79 m · Beauty Shop
Yaletown nails spa · 83 m · Beauty Shop
Is · 100 m · Hairdresser

Cafes (74 nearby)

Matchstick · 157 m · Cafe
Cha yuan · 157 m · Cafe
Faubourg paris · 182 m · Cafe

Groceries (66 nearby)

Ganache pâtisserie · 114 m · Bakery
Farm to table · 154 m · Supermarket
Martway · 190 m · Convenience

Healthcare (12 nearby)

The pharmacy yaletown · 123 m · Healthcare
Shoppers drug mart · 290 m · Healthcare
Yale i.d.a. pharmacy · 359 m · Healthcare

Gyms (4 nearby)

Baza dance studios · 256 m · Gym
Harbour dance centre · 749 m · Gym
Cycklus · 806 m · Gym

Transit (2 nearby)

Skytrain @ yaletown-roundhouse stn station · 186 m · Transit
Bus stop westbound lameys mill rd @ sitka square · 867 m · Transit

Public Schools

Elementary
Elsie Roy Elementary School: Average 0.21 km 6.8/10
Secondary
King George Secondary School: Average 2 km 6.2/10

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

Private Schools

Elementary
Claren Academy: Above Average 0.4 km 9/10
Secondary
Pattison High School: 0.8 km

Closest Transit

Bus Stop
Westbound Pacific Blvd @ Drake St: 0.03 km
Skytrain
Skytrain @ Yaletown-Roundhouse Stn: 0.18 km

Crime Rate

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

Demographics

Post-Secondary Education: Above Average 57%
No Certificate/Degree: Below Average 5.1%
Owner Occupied: Below Average 56.2%
Employment Rate: Below Average 48.4%

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

55 / 100

Overall sell-speed score

Moderate pace expected

Price competition grade

Avg comparable: $839,322

Balanced

Market conditions

Balanced market — steady conditions

Flood Risk

Unlikely — not in floodplain

Railway / Skytrain noise

Unlikely — 0.18 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 YALETOWN compares

This property

153 DOM

Slower than area

Yaletown avg

49 DOM

Average

Vancouver avg

49 DOM

Faster market

507 388 Drake Street has a sell-speed score of 55/100, placing it in the "Expected to sell at a moderate pace" band. The listing is priced 1.2% above comparable active properties in Yaletown. The local market is currently a Balanced Market with a sales-to-active ratio of 16.1% and an area average of 49 days on market — conditions are balanced. With 1245 competing homes currently listed, this property has significant competition. Based on these signals, EstateBlock predicts this listing is may take several weeks to attract serious offers.

Climate Risk for V6B 6A8

Natural hazards vary by location and can change over time. The following provides a summary of potential impacts to this area, postal code V6B 6A8, 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 B / Good

Annual avg PM2.5 5.1 µg/m³ — meets Canada's CAAQS. Nearest station: Vancouver Clark Drive, Vancouver (~3.7 km). Annual avg AQHI 2.2 — Low Risk.

Heat Low

Vancouver currently sees ~1 day 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.

Precipitation Increasing

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.

Drought Stable

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.

Schools NearBy

41 Schools are within 3km

School	Type	Grades Served	Catchment Info	Rating	Distance
Elsie Roy Elementary School	Public	Grades Served K-7	Catchment Info In Catchment	6.8 / 10	Distance 214 m
Claren Academy	Independent	Grades Served —	Catchment Info —	9.0 / 10	Distance 404 m
False Creek Elementary School	Public	Grades Served K-7	Catchment Info —	6.0 / 10	Distance 732 m
False Creek Elementary	Public	Grades Served —	Catchment Info —	6.0 / 10	Distance 748 m
Pattison High School	Independent	Grades Served 9-12	Catchment Info —	N/A	Distance 800 m
Eaton Arrowsmith School (Vancouver) Ltd	Independent	Grades Served —	Catchment Info —	N/A	Distance 809 m
The Westside School	Independent	Grades Served K-9	Catchment Info —	8.8 / 10	Distance 913 m
Lowell High School	Independent	Grades Served 10-12	Catchment Info —	N/A	Distance 933 m
Canada Royal Arts High School	Independent	Grades Served —	Catchment Info —	4.6 / 10	Distance 1.06 KM
Columbia Academy	Independent	Grades Served 10-12	Catchment Info —	N/A	Distance 1.21 KM
Queen Alexandra Elementary School	Public	Grades Served K-7	Catchment Info —	5.7 / 10	Distance 1.31 KM
St. Lawrence School	Independent	Grades Served —	Catchment Info —	8.2 / 10	Distance 1.36 KM
Lord Strathcona Community Elementary School	Public	Grades Served K-7	Catchment Info —	2.1 / 10	Distance 1.38 KM
Madrona School	Independent	Grades Served K-9	Catchment Info —	8.3 / 10	Distance 1.41 KM
Franklin School	Independent	Grades Served —	Catchment Info —	4.1 / 10	Distance 1.41 KM
Alexander Academy	Independent	Grades Served 8-12	Catchment Info —	6.1 / 10	Distance 1.47 KM
VISST	Independent	Grades Served —	Catchment Info —	9.9 / 10	Distance 1.51 KM
Sino Bright School BC	Independent	Grades Served 10-12	Catchment Info —	4.3 / 10	Distance 1.60 KM
Henry Hudson Elementary School	Public	Grades Served K-7	Catchment Info —	6.2 / 10	Distance 1.74 KM
Blessed Sacrament School	Independent	Grades Served K-7	Catchment Info —	8.0 / 10	Distance 1.75 KM
Lord Roberts Elementary School	Public	Grades Served K-7	Catchment Info —	6.0 / 10	Distance 1.80 KM
Century High School	Independent	Grades Served 10-12	Catchment Info —	5.7 / 10	Distance 1.89 KM
King George Secondary School	Public	Grades Served 8-12	Catchment Info In Catchment	6.2 / 10	Distance 2.00 KM
St.Patrick Regional Secondary School	Independent	Grades Served 8-12	Catchment Info —	6.9 / 10	Distance 2.09 KM
Columbia College	Independent	Grades Served 11-12	Catchment Info —	N/A	Distance 2.14 KM
Simon Fraser Elementary School	Public	Grades Served K-7	Catchment Info —	7.6 / 10	Distance 2.18 KM
Lord Tennyson Elementary School	Public	Grades Served K-7	Catchment Info —	7.3 / 10	Distance 2.20 KM
St.Patrick's Elementary School	Independent	Grades Served K-7	Catchment Info —	7.6 / 10	Distance 2.20 KM
St Francis Xavier	Independent	Grades Served —	Catchment Info —	9.6 / 10	Distance 2.26 KM
St Patrick's	Independent	Grades Served —	Catchment Info —	8.3 / 10	Distance 2.27 KM
St. Francis Xavier	Independent	Grades Served K-7	Catchment Info —	9.6 / 10	Distance 2.28 KM
St. Augustine's	Independent	Grades Served K-7	Catchment Info —	8.9 / 10	Distance 2.29 KM
Edith Cavell Elementary School	Public	Grades Served K-7	Catchment Info —	7.3 / 10	Distance 2.38 KM
Mount Pleasant Elementary School	Public	Grades Served K-7	Catchment Info —	5.3 / 10	Distance 2.43 KM
St. John's School	Independent	Grades Served K-12	Catchment Info —	9.8 / 10	Distance 2.55 KM
Emily Carr Elementary School	Public	Grades Served K-7	Catchment Info —	7.8 / 10	Distance 2.62 KM
Florence Nightingale Elementary School	Public	Grades Served K-7	Catchment Info —	7.0 / 10	Distance 2.64 KM
Fraser Academy	Independent	Grades Served 2-12	Catchment Info —	6.2 / 10	Distance 2.66 KM
Westside Montessori	Independent	Grades Served K	Catchment Info —	N/A	Distance 2.80 KM
Vancouver Talmud Torah Elementary School	Independent	Grades Served K-7	Catchment Info —	8.4 / 10	Distance 2.87 KM
York House School	Independent	Grades Served K-12	Catchment Info —	9.3 / 10	Distance 2.99 KM

Pre-computed routes from 507 388 Drake St, Vancouver, BC

507 388 Drake St, Vancouver, BC Yaletown-Roundhouse 0.2 km

9 min

Downtown Vancouver Waterfront Station

By transit (Skytrain)

Downtown Vancouver via Yaletown-Roundhouse → Waterfront
9 min
Metrotown, Burnaby via Yaletown-Roundhouse → Metrotown
27 min
SFU Burnaby via Yaletown-Roundhouse → Production Way
34 min
Richmond Centre via Yaletown-Roundhouse → Brighouse
26 min
YVR Airport via Yaletown-Roundhouse → YVR-Airport
27 min

By car (off-peak)

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

Calculate your commute

507 388 Drake St, Vancouver, BC is ideally located for commuters. The property is 0.2 km from Yaletown-Roundhouse, with a 9 min SkyTrain ride to Downtown Vancouver (Waterfront Station). The closest bus stop is Westbound Pacific Blvd @ Drake St (0.03 km). Walk Score Transit rating: Rider's Paradise (97/100).

Walkability & Transit Near 507 388 Drake Street

Walker's Paradise 98

Walk Score - Walker's Paradise

Daily errands do not require a car

Rider's Paradise 97

Transit Score - Rider's Paradise

World-class public transportation

Very Bikeable 86

Bike Score - Very Bikeable

Biking is convenient for most trips

BC Assessment Value — 507 388 Drake Street

2026 assessed value, sourced from City of Vancouver open data (PID 019-049-455).

Total Assessed Value (2026)

$826,000

-5.6% YoY

-1.0%/yr over 4 yr

2022 Value Trend 2026

Land

$525,000

Buildings

$301,000

Year Built

1995

Class

Comprehensive Development

Zoning

CD-1 (266)

Property Tax

$2,779

Year	Land	Improvements	Total Assessed	YOY Change
2026	$525,000	$301,000	$826,000	-5.6%
2025	$556,000	$319,000	$875,000	-2.1%
2024	$568,000	$326,000	$894,000	+6.7%
2023	$533,000	$305,000	$838,000	-2.4%
2022	$512,000	$347,000	$859,000	—

Costs & calculators

Monthly cost about $4,311/month · rent estimate $3,056/month · owning catches up with renting by year 15 · cash flow if rented −$1,461/month

Mortgage Cash flow Rent estimate Rent vs own

Mortgage Calculator for 507 388 Drake Street

$4,311 /month

Principal & Interest $3,421

Property Taxes $227

Maintenance fee $663

The estimated monthly cost of 507 388 Drake Street, Vancouver is $4,311: $3,421 principal and interest with 20% down over 30 years at 4.45%, plus $227 property tax and $663 strata fee.

or Call 778-918-5990

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

Investment Cashflow Calculator

−$1,461 /month

Mortgage Payment $3,421

Monthly Cash Flow −$1,461

Break Even Down Payment 55%

Cap Rate -2.1%

Cash on Cash -10.3%

If 507 388 Drake Street, Vancouver were rented at $3,056 a month with 5% vacancy, it would fall $1,461 a month short of the mortgage and carrying costs; about 55% down would break even.

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

Estateblock Rent Estimate for 507 388 Drake Street, Vancouver

$3,056 / month

Rent $3,056

Own $4,311

Principal: $1,100/mo Interest, tax, insurance, fees: $3,211/mo

Example shown is the principal portion at year 5 of the mortgage. It grows over the loan: ~$921/mo (year 1) → ~$2,142/mo (year 20) → ~$3,195/mo (year 29).

Net cost to own at year 5 ~$3,211/mo About $155/mo more than renting

EstateBlock estimates 507 388 Drake Street, Vancouver would rent for about $3,056 a month.

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.

Rent vs own: 507 388 Drake Street

Rent vs own

Owning catches up by year 15

With 20% down ($169,800) at 4.45%: renting is cheaper at first, but principal paydown closes the gap

Principal paid off by year 5 $60,526

Principal paid off by year 10 $136,103

Assumes 20% down payment, 4.45% fixed rate, 30-year amortization. Rent line = full rent (money gone). Own line = interest + property tax + fees, excluding principal (money you keep as equity). No appreciation, investment returns or transaction costs included.

Renting 507 388 Drake Street, Vancouver is cheaper at first, but owning catches up by year 15, with $60,526 of principal paid off by year 5 and $136,103 by year 10.