5987 MALVERN AVENUE, Burnaby
$2,699,000
This 11,090 sqft property in Burnaby is a detached single-family home on a lot the new rules make suitable for a multiplex. Burnaby follows the provincial small-scale housing rules, so most single-family lots allow three to four homes, and lots near frequent transit can allow up to six. Burnaby's larger average lot size often makes the higher counts easier to lay out.
YOUR NEXT BEST INVESTMENT! This rarely available parcel is located in Buckingham Heights — the most sought-after neighbourhood in Burnaby. This rancher with basement home sits on an expansive 11,090 sq.ft. lot with 75 feet of frontage, zoned Small-Scale Multi-Unit Housing for exceptional development potential — subdivide into TWO single-famly homes, build up to 8 units, construct your dream home, or add a secondary suite to the unfinished basement. Always verify zoning and development potential with the city. Enjoy an unbeatable location minutes to Deer Lake Beach, Royal Oak Skytrain Station, Metrotown, Brentwood Mall, and Burnaby Hospital. This is more than a property — it's a once-in-a-generation opportunity in one of Burnaby's most exclusive, established enclaves. Don't wait.
How this price compares
This lot asks $243 per square foot of lot. That is 10% below the median of $271 across the 258 active lots VanPlex is showing in Burnaby, and puts it 80 of 258 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
- $2,699,000
- Lot size
- 11,090 sqft
- Lot dimensions
- 75 x
- Frontage
- 75 ft
- Bedrooms
- 4
- Bathrooms
- 2
- Year built
- 1957
- Zoning
- R1
- MLS® area
- Upper Deer Lake
- MLS® number
- R3148541
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Listing data via MLS®. Displayed for information only. Zoning R1 stamped from the city record on 2026-07-25.