5430 MELBOURNE STREET, Vancouver
$2,075,000
This 5,797.53 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.
This 6 bedroom, 3 bathroom family home sits on 5,797 sq ft CORNER lot (54.91 x 107) and offers 2,824 sq ft of living space, configured with 3 bedrooms and 2 bathrooms (including one ensuite) up, plus a self contained 3 bedroom, 1 bathroom suite down. The home was previously renovated but will require work and fixes throughout. Versatile opportunity to update, hold as investment, or build new! Zoned R1-1 and located within Tier 3 of the Joyce-Collingwood Station Transit oriented area (400-800 m from the Skytrain station) the property carries meaningful future redevelopment upside under the City's TOA policy, in addition to other multiplex options under current zoning.
How this price compares
This lot asks $358 per square foot of lot. That is 20% below the median of $447 across the 758 active lots VanPlex is showing in Vancouver, and puts it 151 of 758 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
- $2,075,000
- Lot size
- 5,797.53 sqft
- Lot dimensions
- 54.91 x 0
- Frontage
- 54.91 ft
- Bedrooms
- 6
- Bathrooms
- 3
- Year built
- 1976
- Zoning
- R1-1
- MLS® area
- Collingwood VE
- MLS® number
- R3145034
Want the PlexScore and return on equity for this lot? Get PlexPro.
Listing data via MLS®. Displayed for information only. Zoning R1-1 stamped from the city record on 2026-07-25.