1 556x Sussex Avenue, Burnaby

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$1,000

1 556x Sussex Avenue

Forest Glen BS, Burnaby, BC, V5H 3B3

3 | 2 | 1,200 sq.ft. |

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Property Info

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MLS®: R3069204

Listing Courtesy of LeHomes Realty Premier

Total Bedrooms 3

Total Bathrooms 2

Floor Space 1200 sq.ft.

Date Listed XXXX-XX-XX

Property Type House

Listed Price $1,000

Strata Fee $0.00

More Details

Floor Space Finished 0.00 sq.ft.

Summary

Location and General Information

MLS Area Major: Burnaby South
Street Name: Sussex
City: Burnaby
State Or Province: BC
Postal Code: V5H 3B3
Property Type: Residential Lease
Property Sub Type: Single Family Residence

Interior and Exterior Features

Interior Features

Exterior Features

Property

Utilities

Property and Assessments

Building Area Total: 1200
Living Area: 1200

Lot Information

Sold History

MAP & Nearby Facilities

Map

Street

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City Introduction

Overview of Burnaby, BC, Canada

Population

Burnaby is the third-largest city in British Columbia, with a population of approximately 274,000 (2024). The population density is 2,750.7 people per square kilometer. Burnaby is a multicultural city, with about 64% of residents belonging to visible minorities, including a significant Chinese community (34%). Additionally, around 56% of residents speak a primary language other than English, reflecting its cultural diversity.

Economy

Key Industries: High-tech, film production, retail, and education. Burnaby is home to several high-tech parks and film studios, making it a key economic hub in Western Canada.
Commercial Centers: Metrotown is the second-largest shopping center in Western Canada, attracting both consumers and investors.
Educational Resources: Burnaby hosts Simon Fraser University (SFU) and the British Columbia Institute of Technology (BCIT), providing a highly skilled workforce and fostering innovation.

Living Features

Natural Environment: Burnaby boasts abundant natural landscapes, including Burnaby Lake, Deer Lake, and numerous community parks, ideal for outdoor activities.
Transportation: Burnaby is well-connected to downtown Vancouver via SkyTrain and bus systems, with a commute time of about 30 minutes.
Multiculturalism: The city's diverse communities and cultural events make it an inclusive and vibrant place to live.

Real Estate Investment

Prices: Burnaby's housing prices are relatively moderate compared to Vancouver, with detached homes averaging $1.5 million CAD and condos around $700,000 CAD (2024).

Opportunities:

Stable rental market: Burnaby's universities and job opportunities attract a steady stream of renters, ensuring high rental yields.
Long-term growth potential: Proximity to downtown Vancouver and ongoing infrastructure projects (e.g., SkyTrain expansion) support sustained property value growth.

Risks:

Foreign buyer taxes (20%) and vacancy taxes may increase investment costs.
Rapid price increases in some areas require careful timing for investments.

Verdict

Burnaby is ideal for those seeking a high quality of life and long-term investment. Popular residential areas include Deer Lake and Metrotown, while properties near SkyTrain stations are attractive for investors.

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