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47 Highlands Place W
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Excellent investment opportunity at 47 Highlands Place W — a well-maintained fourplex in a prime Westside location close to Safeway, Home Hardware, Banks, and a wide range of everyday amenities.This property features four self-contained units, each offering 594 sq ft on the main floor plus a fully developed basement. Every unit includes a functional and consistent layout with 3 bedrooms in the lower level, a full bathroom downstairs, and a convenient half bathroom on the main floor. The main level also offers a spacious kitchen complete with an island, ample counter space, a pantry, and a large walk-in storage room next to the kitchen for added practicality.Each unit enjoys its own private 12’ x 4’ balcony, while the property also includes underground sprinklers, a side yard shed, and durable stucco exterior. There is ample parking with 6+ off-street stalls, four exterior plug-ins, and separately metered utilities for each unit—an ideal setup for managing expenses.The property has seen updates throughout the years, including newer appliances across the units, four new dishwashers installed in 2025, Washer & dryer are also located on the lower level, and updated blinds in several suites. Pride of ownership is evident, making this a solid, turn-key addition to any portfolio.Currently configured with three rented units and one vacant unit, this offers immediate income with the flexibility to set your own rent or occupy a unit.A strong revenue property in a sought-after rental location—ideal for both new and seasoned investors. (id:65958)
10-item due-diligence checklist. We can pre-flight most of these for you on a CMA call.
Comparable sales
Ask for 3–5 recent solds within ~1 km and the same beds/baths so the list price has context.
Property condition
Roof age, furnace age, hot-water tank age, electrical panel size, windows. Cosmetic vs structural.
Zoning
Confirm zoning matches your intent (single-family vs duplex vs secondary suite vs commercial).
Suite legality / potential
If suited or being marketed as suited: confirm permits, separate entrance, ceiling height, egress windows.
Monthly carrying cost
Mortgage + property tax + insurance + condo fee (if any) + utilities. Compare to your max budget.
Property taxes
Confirm the annual tax amount on the current assessment — and whether a reassessment is pending.
Insurance estimate
Get a same-day quote. Older homes, knob-and-tube wiring, polybutylene plumbing, flood plains all change the number.
Commute
Drive it (or transit it) at the actual time of day you'd commute. Map ETA lies during peak hours.
Deposit and financing conditions
Deposit size, financing condition window, condition removal date, possession date — all negotiable.
Inspection considerations
Budget for a home inspector ($500–700) and any specialty inspections (sewer scope, mould, asbestos for pre-1990 builds).
Cash on cash
-0.80%
Cap rate
4.70%
GRM
13.9
Break-even rent
$6,089
Financing
Operating expenses (monthly)
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Approximation only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Pick a down payment and tap any underlined number to edit. Total updates live. Confirm with a mortgage broker before writing an offer.
Monthly carrying costs (shared)
Approximation only. CMHC default insurance is included when down payment is under 20%. Property tax and condo fees come from MLS when listed and may not reflect the current billing year. Accelerated bi-weekly frequency reduces total interest paid vs. monthly — confirm with a broker. Suite rental income depends on permits, market rent, and vacancy. Always validate with a mortgage broker before writing an offer.
We'll reply by text within a few hours. Comparable sales, condition flags, things worth checking — sent before you book a showing.
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Jun 12, 2026.
Location of this listing. Distances are straight-line.
Full neighbourhood intelligence (schools, halal, mosques, transit) is still building for this address.
Buyer-fit signals
Derived from listing data and nearby-amenity proximity. Verify anything that matters to your decision — distances are approximate.