1038 E 51ST AVENUE, Vancouver
$2,198,000
This 5,124 sqft property in Vancouver is a detached single-family home on a lot the new rules make suitable for a multiplex. In Vancouver, most single-family lots fall under the R1-1 zone, which allows a multiplex of up to six units on many lots, and more on larger or corner sites. The final count depends on lot area, frontage, and whether you keep any existing character home, so each lot should be checked against the city's rules.
Exceptional opportunity to own a spacious 3,285 sq.ft. family home offering incredible flexibility and income potential. Situated on a 42 x 122 ft lot, this property features 9 bedrooms and 5 bathrooms, making it ideal for large or multi-generational families, investors, or those looking to offset their mortgage with rental income. The home has two self-contained suites, with the potential of having four suites total, and a private backyard. Rebuilt in the 1990's with more updates done in 2017. Conveniently located close to schools, parks, shopping, transit, and everyday amenities, this is a property that combines size, versatility, and long-term value in one package. 10-minutes to Richmond, 5-minutes to Marine Gateway Canada Line and 15-minutes to downtown Vancouver. OH: Sun, Aug 9 2-3pm
How this price compares
This lot asks $429 per square foot of lot. That is 4% below the median of $447 across the 754 active lots VanPlex is showing in Vancouver, and puts it 344 of 754 from cheapest to most expensive. Asking prices only, taken from the current MLS® feed.
Land price per square foot is only one input. Frontage, lane access, slope, and how many homes the zoning actually allows decide what a lot is worth to a builder.
Lot and property details
- Price
- $2,198,000
- Lot size
- 5,124 sqft
- Lot dimensions
- 42 x 122
- Frontage
- 42 ft
- Bedrooms
- 9
- Bathrooms
- 5
- Year built
- 1944
- Zoning
- R1-1
- MLS® area
- South Vancouver
- MLS® number
- R3148177
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Listing data via MLS®. Displayed for information only. Zoning R1-1 stamped from the city record on 2026-07-25.