2505 - 388 Drake Street, Vancouver, V6B 6A8 — photo 1

$1,290,000

2505 - 388 Drake Street, Vancouver, V6B 6A8
Active
2 Bedrooms 2 Bathrooms 1,202 sqft Built 1995 Residential

About This Property

PANORAMIC WATERFRONT VIEWS at Governor's Tower! Experience unobstructed, breathtaking vistas of False Creek and David Lam Park through stunning floor-to-ceiling windows in this spacious 2 Bedroom + Den home. Thoughtfully designed with an open layout and abundant natural light, offering both comfort and functionality. Enjoy the tranquility of waterfront living right in the heart of vibrant Yaletown. Features include updated flooring and appliances (approx. 4 years old), generous in-suite storage, and a rare offering of 5 secured parking stalls — including triple tandem + side-by-side, ideal for collectors or multigenerational households. Comes with an oversized locker for even more convenience. Resort-style amenities include an indoor pool, fitness center, and 24-hour concierge. Steps from

NoneView

Property Details

MLS #

R3016216

Status

Active

Type

Residential

Sub-type

Apartment/Condo

Ownership

Freehold Strata

Zoning

CD-1

Bedrooms

2

Full Baths

2

Half Baths

0

Kitchens

1

Fireplaces

0

Living Area

1,202 sqft

Main Floor

1,202 sqft

Lot Dimensions

0 x

Frontage

0

Stories

31

Year Built

1995

Age

31 years

Roof

Other

Construction

Concrete, Mixed (Exterior)

Structure

Multi Family, Residential Attached

Parking Stalls

5

Parking Type

Garage Under Building, Front Access

Facing

South

Original Price

$1,450,000

Strata Fee

$961.16/mo

Taxes

$4,192/yr

Listed

2025-06-16

MLS Area

Yaletown

City

Vancouver

Postal Code

V6B 6A8

Features & Finishes

Heating

Baseboard

Flooring

Laminate · Mixed

Appliances

Washer/Dryer · Dishwasher · Refrigerator · Stove

Laundry

In Unit

Interior Features

Elevator · Storage

Exterior Features

Garden · No Outdoor Area

Building & Community

Total Units

237

Pets

Yes With Restrictions

Restrictions

Pets Allowed w/Rest.,Rentals Allwd w/Restrctns

View

False Creek, David Lam Park

Lot Features

Central Location, Recreation Nearby

Water Source

Public

Sewer

Public Sewer, Sanitary Sewer

Utilities

Electricity Connected, Water Connected

Pool

Indoor

Community

Shopping Nearby

Building Amenities

Exercise Centre · Trash · Maintenance Grounds · Hot Water · Management · Recreation Facilities

Disclosures

Property Disclosure

Yes

Coordinates: 49.273617, -123.124478 · Map data © Google

7.0

Good Value

Deal Score out of 10

Priced competitively with some negotiation potential.

Value vs market12% above market $/sqft
Days on market323 days — significantly stale, strong negotiation position
Price historyPrice dropped 11% from original ask — seller showing motivation
Market conditionsBuyer's market — avg 97% of ask
Draft CPS Offer

Offer Advisor

High confidence

Suggested Offer

$1,218,565

5.5% below asking price

Negotiation Range

$1,186,315$1,237,915

$51,600 spread

$1,186,315$1,290,000 ask

Based on 82 recent sales, a starting offer around $1,218,565 (5.5% below ask) is reasonable. Your negotiation range is $1,186,315 – $1,237,915.

What's factored in

Market baseline82 recent Vancouver sales closed at median 96.8% of list price
Price already reducedSeller dropped from 11% off original ask — indicates motivation
Extended market time323 days listed — well above market avg of 175 days, increased negotiation leverage
Above-average DOM323d vs market avg of 175d — property may have a pricing or condition issue

Based on 82 residential sales in Vancouver (last 60 days) · Updated May 4

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