Five homes you could buy in Vancouver for $500K or less

Believe it or not, you can find some affordable homes in Vancouver for under $500,000.

You won’t get a detached home in Vancouver for half a million or less, and with benchmark condo prices at around $776,500 as of April, you’re probably not getting a large or newer condo unit.

However, some older apartment units are available for sale in Vancouver in that price range.

RoomVu compiled a list of five cheap properties that were available for sale last month.

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16 Lakewood Drive ($430,000)

Courtesy of Lisa Zhou

At the high end is this one-bedroom and one-bathroom condo in East Vancouver.

Courtesy of Lisa Zhou

It was built in 1981 and features 585 sq ft of space. It is currently listed for slightly more than its assessed value of $405,000.

Courtesy of Lisa Zhou

What it lacks in overall size, it makes up for with plenty of storage space in the form of closets.

The unit, which is close to downtown, is on the top floor, and the listing states that there’s an “added metal security door” to make you feel safer.

22 East Cordova Street ($429,000)

Courtesy of Cheryl Davie

This condo unit in Gastown is an interesting one.

The unit functions as a loft with 459 sq ft of space. It’s small but functional.

Courtesy of Cheryl Davie | Stillhavn Real Estate

“This space is flooded with natural light,” the listing says.

Courtesy of Cheryl Davie | Stillhavn Real Estate

This property is listed for much less than the assessed value, which currently sits at $467,200.

168 Powell Street ($428,000)

Re/Max Crest Realty

This European-style apartment features one bedroom and one bathroom. The listing says it’s located in the heart of Gastown, but it’s closer to the border between Gastown and the Downtown Eastside.

Re/Max Crest Realty

It’s a very straightforward layout, with the bedroom tucked away next to the kitchen behind a sliding door.

Re/Max Crest Realty

This property is currently listed for slightly more than the assessed value of $421,800.

1404-1850 Comox Street ($409,000)

Team 3000 Realty

This condo was built in 1968 and offers 585 sq ft of space.

Amenities include a rooftop lounge and an indoor pool. It also has great views of English Bay and is a short walk to Vancouver’s best outdoor spaces.

Team 3000 Realty

The age of the unit shows, but it isn’t without its charm.

Team 3000 Realty

202-488 Kingsway, Vancouver ($399,000)

Courtesy of Shirley Louie

The cheapest unit available last month is no longer listed for sale, which could mean it was sold.

Courtesy of Shirley Louie

It was last listed for much less than the assessed value of $423,400.

The unit is located in Mount Pleasant, near Mount St. Joseph Hospital. Plenty of shops and restaurants are within walking distance.

Courtesy of Shirley Louie

The rooftop features a deck with a BBQ and patio furniture.

Which of these five Vancouver homes under $500,000 is your favourite? Let us know in the comments.