Home Vancouver, BC Downtown VW Garage PH 602 12 Water Street

PH 602 12 Water St, Vancouver BC V6B 1A5 – Condo for Sale – MLS® R3163288

PH 602 12 Water Street, Vancouver, British Columbia V6B 1A5

Vancouver Condos for Sale

65 days on the market

$1,450,000

Est. monthly cost $7,114/mo

Updated with MLS® - Nov 12, 2026 at 06:45pm

The Garage

2 Beds

2 Baths

1022 sqft

1419 $ /sqft

747.31 $ Maint. fee

2009 built

Photos

Architecturally designed 2-bed, 2-bath penthouse in Gastown's iconic The Garage with rare LIVE/WORK zoning. Floor-to-ceiling south and east-facing windows offer sweeping city views, while exposed concrete, wide-plank BC fir floors and custom millwork create a refined, contemporary feel. Folding glass doors open to the balcony, and the chef's kitchen features integrated Sub-Zero and Miele appliances. Premium finishes include basalt stone bathrooms, steam shower, soaker tub, A/C, Sonos audio and designer lighting. Private rooftop terrace features an outdoor kitchen, BBQ, fireplace, custom dining table, irrigation, weatherproof speakers and hot tub rough-in. A truly exceptional home in one of Vancouver's most iconic heritage buildings. Offers as they come.

Building 26 fields Inside & out 15 fields Lot & land 8 fields

Building Details

Price	$1,450,000
Total Bedrooms	2
Total Bathrooms	2
Full Bathrooms	2
Half Bathrooms	0
Floor Area Total (sqft)	1022
Year Built	2009
Age Of Building	17
Building Type	Apartment/Condo
Property Type	Residential
Architecture Style	Loft/Warehouse Conv., Penthouse
Stories	1
Building Amenities	Bike Room, Trash, Maintenance Grounds, Gas, Heat, Hot Water, Management, Water
Building Name	The Garage
Ownership Type	Freehold Strata
Maintenance Fee	$747.31
Community Features	Shopping Nearby
Amenities Nearby	Bike Room, Trash, Maintenance Grounds, Gas, Heat, Hot Water, Management, Water
Utility Type	Electricity Connected, Natural Gas Connected, Water Connected
Utility Sewer	Public Sewer, Sanitary Sewer
Water (WaterSource)	Public
Parking Type	Underground, Lane Access, Garage Door Opener
Total Parking Spaces	2
Strata Restrictions	Pets Allowed w/Rest.,Rentals Allwd w/Restrctns
Pet Restrictions	Cats OK, Dogs OK, Number Limit (One), Yes With Restrictions
Units In Development	34

Interior Features

Basement Finished Area (sqft)	0
Basement Features	None
Appliances Included	Washer/Dryer, Dishwasher, Refrigerator, Stove
Interior Features	Elevator
Fireplace	1
Heating Type	Forced Air
Cooling	Central Air, Air Conditioning
Laundry	In Unit
# of Kitchens	0
Flooring	Concrete
Foundation	Block

Exterior Features

Exterior Features	Balcony
View Description	city, partial water
Roof	Other
Structures	Multi Family, Residential Attached

Lot & Land

Lot Size Depth	Feet
MLS^® #	R3163288
Area	Vancouver West
Neighbourhood	Downtown VW
City	Vancouver
Postal Code	V6B 1A5
Gross Taxes	$6,293.79
Zoning	HA-2

Property Timeline

Status	Date	Price
R3163288 / Active	09-08-2026	$1,450,000
to view full Property History (1 earlier record)

Rooms

Floor	Type	Dimensions
Main Level	Primary Bedroom	11'4 x 11'4 ft
Main Level	Bedroom	11'6 x 11'6 ft
Main Level	Den	8'2 x 8'2 ft
Main Level	Living Room	20'2 x 20'2 ft

Bathrooms

Floor	Ensuite	Pieces
Main Level	Yes	#5
Main Level	No	#4

Listed by: Oakwyn Realty Ltd.

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: Garage

12 Water Street, Downtown VW, Vancouver

Garage building details

Building

Built: 2009
Homes: 34 in 6 storeys
Construction: Concrete, Brick
Title: Freehold Strata
Strata plan: BCS3647
Managed by: SD Woodman
Parking: Garage: Underground
Lockers: Limited
Strata fee covers: ManagementHot WaterHeatGasGardeningGarbage Pickup

Bylaws on record

Pets: Restricted; Cats and dogs OK, max 1
Rentals: Allowed

Market at Garage

For sale: 1
Median ask: $1.45M
Median $/sqft: $1,419
Days on market: 66

This home

$1,419/sqft, in line with the building median of $1,419.

Homes for sale at Garage, Vancouver Recent sold listings in Garage, Vancouver

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

Map, sell speed & climate

SkyTrain 0.52 km · Britannia Community Secondary School 5/10 · 2.61 km · crime average · sell-speed score 38/100 (may take longer) · flood lower risk · wildfire low

Map & area Sell speed Climate risk

Map & Neighbourhood

Nearby Restaurants, Cafes & Shops

Restaurants (273 nearby)

Oku izakaya · 28 m · Restaurant
Peckinpah · 29 m · Restaurant
L'abattoir · 31 m · Restaurant

Shopping (266 nearby)

Cos · 19 m · Clothes
Mosh · 35 m · Optician
Haven · 38 m · Clothes

Cafes (107 nearby)

L'apres midi patisserie · 27 m · Cafe
Milano espresso lounge · 113 m · Cafe
Nelson the seagull · 145 m · Cafe

Groceries (59 nearby)

Carrall supermarket · 141 m · Convenience
Express news · 173 m · Convenience
Bazaar smoke & convenience · 186 m · Convenience

Healthcare (20 nearby)

Omnicare pharmacy ltd · 111 m · Healthcare
London drugs · 264 m · Healthcare
Wellness pharmacy · 271 m · Healthcare

Transit (7 nearby)

Seabus station @ waterfront stn station · 520 m · Transit
West coast express @ waterfront stn station · 547 m · Transit
Skytrain @ stadium stn station · 570 m · Transit

Gyms (2 nearby)

Stretch yoga studio · 468 m · Gym
Ywca · 966 m · Gym

Public Schools

Secondary
Britannia Community Secondary School: Average 2.61 km 5/10
Elementary
Lord Strathcona Community Elementary School: Below Average 0.66 km 2.1/10

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

Private Schools

Elementary
The Westside School: Above Average 0.9 km 8.8/10
Secondary
Sino Bright School BC: Average 0.36 km 4.3/10

Closest Transit

Bus Stop
Eastbound W Cordova St @ Carrall St: 0.11 km
Skytrain
Seabus Station @ Waterfront Stn: 0.52 km

Crime Rate

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

Demographics

Post-Secondary Education: Above Average 33.2%
No Certificate/Degree: Average 12.7%
Owner Occupied: Above Average 85.8%
Employment Rate: Below Average 25.7%

Noise/ Power Lines

Road/Hwy Noise: Unlikely
Railway/Sky train Noise: Possible
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

38 / 100

Overall sell-speed score

May take longer

Price competition grade

Avg comparable: $1,039,985

Balanced

Market conditions

Balanced market — steady conditions

Flood Risk

Unlikely — not in floodplain

Railway / Skytrain noise

Possible — near transit

Road / Highway noise

Unlikely

Airport noise (YVR)

Unlikely

Power lines proximity

Unlikely

ALR (Agricultural Land Reserve)

No — not in ALR

How DOWNTOWN VW compares

This property

65 DOM

Slower than area

Downtown VW avg

49 DOM

Average

Vancouver avg

49 DOM

Faster market

PH 602 12 Water Street has a sell-speed score of 38/100, placing it in the "May take longer than the area average to sell" band. The listing is priced 39.4% above comparable active properties in Downtown VW. 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 could take longer than the area average to sell.

Climate Risk for V6B 1A5

Natural hazards vary by location and can change over time. The following provides a summary of potential impacts to this area, postal code V6B 1A5, 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 (~3.2 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

30 Schools are within 3km

School	Type	Grades Served	Catchment Info	Rating	Distance
Sino Bright School BC	Independent	Grades Served 10-12	Catchment Info —	4.3 / 10	Distance 358 m
Lord Strathcona Community Elementary School	Public	Grades Served K-7	Catchment Info In Catchment	2.1 / 10	Distance 658 m
Alexander Academy	Independent	Grades Served 8-12	Catchment Info —	6.1 / 10	Distance 659 m
Columbia Academy	Independent	Grades Served 10-12	Catchment Info —	N/A	Distance 769 m
Lowell High School	Independent	Grades Served 10-12	Catchment Info —	N/A	Distance 867 m
The Westside School	Independent	Grades Served K-9	Catchment Info —	8.8 / 10	Distance 905 m
Madrona School	Independent	Grades Served K-9	Catchment Info —	8.3 / 10	Distance 930 m
Franklin School	Independent	Grades Served —	Catchment Info —	4.1 / 10	Distance 930 m
Claren Academy	Independent	Grades Served —	Catchment Info —	9.0 / 10	Distance 1.42 KM
Pattison High School	Independent	Grades Served 9-12	Catchment Info —	N/A	Distance 1.49 KM
Columbia College	Independent	Grades Served 11-12	Catchment Info —	N/A	Distance 1.50 KM
Elsie Roy Elementary School	Public	Grades Served K-7	Catchment Info —	6.8 / 10	Distance 1.80 KM
Admiral Seymour Elementary School	Public	Grades Served K-7	Catchment Info —	N/A	Distance 1.86 KM
St. Francis Xavier	Independent	Grades Served K-7	Catchment Info —	9.6 / 10	Distance 2.00 KM
St Francis Xavier	Independent	Grades Served —	Catchment Info —	9.6 / 10	Distance 2.01 KM
Eaton Arrowsmith School (Vancouver) Ltd	Independent	Grades Served —	Catchment Info —	N/A	Distance 2.06 KM
Mount Pleasant Elementary School	Public	Grades Served K-7	Catchment Info —	5.3 / 10	Distance 2.29 KM
King George Secondary School	Public	Grades Served 8-12	Catchment Info —	6.2 / 10	Distance 2.38 KM
False Creek Elementary School	Public	Grades Served K-7	Catchment Info —	6.0 / 10	Distance 2.40 KM
False Creek Elementary	Public	Grades Served —	Catchment Info —	6.0 / 10	Distance 2.42 KM
St.Patrick Regional Secondary School	Independent	Grades Served 8-12	Catchment Info —	6.9 / 10	Distance 2.46 KM
Lord Roberts Elementary School	Public	Grades Served K-7	Catchment Info —	6.0 / 10	Distance 2.46 KM
Canada Royal Arts High School	Independent	Grades Served —	Catchment Info —	4.6 / 10	Distance 2.56 KM
Britannia Community Secondary School	Public	Grades Served 8-12	Catchment Info In Catchment	5.0 / 10	Distance 2.61 KM
Britannia Community Elementary School	Public	Grades Served K-7	Catchment Info —	5.9 / 10	Distance 2.63 KM
St.Patrick's Elementary School	Independent	Grades Served K-7	Catchment Info —	7.6 / 10	Distance 2.64 KM
St Patrick's	Independent	Grades Served —	Catchment Info —	8.3 / 10	Distance 2.65 KM
Florence Nightingale Elementary School	Public	Grades Served K-7	Catchment Info —	7.0 / 10	Distance 2.69 KM
Simon Fraser Elementary School	Public	Grades Served K-7	Catchment Info —	7.6 / 10	Distance 2.93 KM
St Francis of Assisi	Independent	Grades Served K-7	Catchment Info —	8.9 / 10	Distance 2.97 KM

Walkability & Transit Near PH 602 12 Water Street

Walker's Paradise 97

Walk Score - Walker's Paradise

Daily errands do not require a car

Rider's Paradise 100

Transit Score - Rider's Paradise

World-class public transportation

Biker's Paradise 96

Bike Score - Biker's Paradise

Daily errands can be accomplished on a bike

BC Assessment Value — PH 602 12 Water Street

2026 assessed value, sourced from City of Vancouver open data (PID 028-088-310).

Total Assessed Value (2026)

$1,078,700

-6.5% YoY

-6.3%/yr over 4 yr

2022 Value Trend 2026

Land

$916,000

Buildings

$162,700

Year Built

2009

Class

Historical Area

Zoning

HA-2

Property Tax

$6,294

Year	Land	Improvements	Total Assessed	YOY Change
2026	$916,000	$162,700	$1,078,700	-6.5%
2025	$980,000	$174,300	$1,154,300	-11.3%
2024	$1,105,000	$195,900	$1,300,900	-11.4%
2023	$1,247,000	$221,800	$1,468,800	+5.0%
2022	$1,182,000	$216,200	$1,398,200	—

Costs & calculators

Monthly cost about $7,114/month · rent estimate $4,350/month · owning catches up with renting by year 25 · cash flow if rented −$3,043/month

Mortgage Cash flow Rent estimate Rent vs own

Mortgage Calculator for PH 602 12 Water Street

$7,114 /month

Principal & Interest $5,843

Property Taxes $524

Maintenance fee $747

The estimated monthly cost of PH 602 12 Water Street, Vancouver is $7,114: $5,843 principal and interest with 20% down over 30 years at 4.45%, plus $524 property tax and $747 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

−$3,043 /month

Mortgage Payment $5,843

Monthly Cash Flow −$3,043

Break Even Down Payment 62%

Cap Rate -2.5%

Cash on Cash -12.6%

If PH 602 12 Water Street, Vancouver were rented at $4,350 a month with 5% vacancy, it would fall $3,043 a month short of the mortgage and carrying costs; about 62% 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 PH 602 12 Water Street, Vancouver

$4,350 / month

Rent $4,350

Own $7,114

Principal: $1,879/mo Interest, tax, insurance, fees: $5,235/mo

Example shown is the principal portion at year 5 of the mortgage. It grows over the loan: ~$1,573/mo (year 1) → ~$3,659/mo (year 20) → ~$5,457/mo (year 29).

Net cost to own at year 5 ~$5,235/mo About $885/mo more than renting

EstateBlock estimates PH 602 12 Water Street, Vancouver would rent for about $4,350 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: PH 602 12 Water Street

Rent vs own

Owning catches up by year 25

With 20% down ($290,000) at 4.45%: renting is cheaper at first, but principal paydown closes the gap

Principal paid off by year 5 $103,371

Principal paid off by year 10 $232,450

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 PH 602 12 Water Street, Vancouver is cheaper at first, but owning catches up by year 25, with $103,371 of principal paid off by year 5 and $232,450 by year 10.