Where to Buy a Multiplex in Vancouver
497 multiplex applications have been filed across Vancouver as of January 2026. But some neighbourhoods are moving faster than others. This is the data on where people are actually buying, what they're paying, and which areas have the best setup for multiplex living.
Key Topics
East Van Dominates the Pipeline
Hastings-Sunrise leads all neighbourhoods with 66 multiplex land sales at an average of $1.9M per lot. Renfrew-Collingwood and Killarney follow close behind, making the eastern corridor the heartbeat of multiplex activity.
Price Varies Wildly by Area
Killarney offers the lowest entry at $1.5M for multiplex land, while Kitsilano and Kerrisdale push past $3M–$4M. The same 6-unit zoning applies everywhere — but the math only works in some places.
Rental Yields Are Compressing
Vancouver's vacancy rate hit 3.7% in 2025 — a 36-year high. Downtown rents dropped 13.8% year-over-year. Suburban markets like Surrey ($2.30/sqft) offer better yield math than Vancouver proper ($3.70/sqft).
Transit Access Unlocks 6 Units
Under Bill 44, lots within 400m of frequent transit get 6-unit zoning instead of 4. The upcoming Surrey-Langley SkyTrain (2029) and Broadway Extension will create new eligible corridors.
Burnaby and Surrey Are Catching Up
Burnaby has 47 active multiplex applications with construction costs $380–$420/sqft vs. Vancouver's $400–$500/sqft. Surrey has 65,000+ eligible lots. The suburbs are where the next wave builds.
Only 2% of Lots Actually Pencil
VanPlex analysis shows only 2,419 properties across the GVRD show 100%+ return on equity. Neighbourhood selection isn't just preference — it's the difference between a project that works and one that doesn't.
Neighbourhood Comparison Table
How Metro Vancouver's top multiplex areas stack up across the numbers that actually matter for buyers.
| Neighbourhood | Avg. Land Price | Build Cost/sqft | Active Projects | Transit | Walk Score | 1BR Rent |
|---|---|---|---|---|---|---|
| Hastings-Sunrise | $1.9M | $400–$500 | 66 sales | Bus frequent | 72 | $2,150 |
| Renfrew-Collingwood | $1.7M | $400–$500 | 50+ | SkyTrain + Bus | 74 | $2,100 |
| Killarney | $1.5M | $400–$500 | 30+ | Bus moderate | 68 | $2,000 |
| Marpole | $2.2M | $400–$500 | 25+ | Canada Line | 76 | $2,200 |
| Kensington-Cedar Cottage | $1.8M | $400–$500 | 40+ | Bus frequent | 75 | $2,150 |
| Kitsilano | $3.5M+ | $400–$500 | 15+ | Bus frequent | 89 | $2,400 |
| Burnaby (Edmonds) | $1.4M | $380–$420 | 47 apps | SkyTrain | 72 | $1,900 |
| Burnaby (Metrotown) | $1.6M | $380–$420 | In pipeline | SkyTrain | 78 | $2,100 |
| North Van (Lonsdale) | $1.8M | $400–$450 | 4,900 lots rezoned | SeaBus + Bus | 80 | $2,200 |
| Surrey (Fleetwood) | $1.1M | $380–$420 | Early stage | SkyTrain 2029 | 55 | $1,600 |
| Surrey (City Centre) | $1.3M | $380–$420 | Early stage | SkyTrain | 65 | $1,650 |
| Port Moody | $1.5M | $400–$450 | Emerging | SkyTrain | 62 | $1,800 |
Sources: VanPlex neighbourhood data (Jan 2026), CBRE multiplex land sales report (Feb 2026), liv.rent March 2026 rent report, Walk Score. Build costs from VanPlex and Smallworks estimates. Active project counts include filed applications, closed land sales, and permits in progress.
Top 6 Multiplex Hotspots
These are the neighbourhoods with the most activity, the best economics, or the biggest upside for multiplex buyers right now.
Hastings-Sunrise
66 closed land sales — the most in Vancouver. Fourplexes and sixplexes on 33-ft and 50-ft lots. RT-1 and R1-1 zoning.
Working-class roots going through a slow transformation. Still feels like old East Van — convenience stores, Vietnamese restaurants, Italian delis. The PNE and Hastings Park anchor the west end. Families have been here for generations, and new multiplex buyers are joining them, not replacing them. Walk Score in the low 70s. Frequent bus service on Hastings Street qualifies many lots for 6-unit density.
Renfrew-Collingwood
50+ applications filed. SkyTrain access at Joyce-Collingwood and Renfrew stations. Strong demand from multi-generational families.
One of Vancouver's most diverse neighbourhoods. Cantonese, Mandarin, and Vietnamese spoken as commonly as English on some blocks. Crystal Mall, Collingwood Village, and a sprawl of small businesses along Kingsway. The SkyTrain connection is the differentiator here — it gives residents a 20-minute commute downtown and qualifies adjacent lots for 6-unit density. Slightly cheaper land than Hastings-Sunrise with comparable upside.
Burnaby (Edmonds / Metrotown)
47 active applications as of Feb 2026. Build costs run $380–$420/sqft — 15–20% cheaper than Vancouver. New SSMUH zoning adopted late 2025.
Edmonds is the dark horse. Quieter than Metrotown but with SkyTrain access, a community centre, and a mix of older homes ripe for redevelopment. Metrotown offers urban convenience — the mall, Burnaby Lake nearby, high-rise density that supports local businesses. Burnaby's December 2025 bylaw changes reduced height to 10m and trimmed lot coverage, so check current rules before buying. The lower construction costs make a real difference in project feasibility.
Surrey (Fleetwood / City Centre)
65,000+ eligible lots across Surrey. Early-stage pipeline — few completed multiplex projects yet. The Surrey-Langley SkyTrain extension (targeting 2029) changes everything for Fleetwood.
The value play. Land here costs 30–50% less than East Vancouver. Construction runs $380–$420/sqft. The catch: transit is bus-only until the SkyTrain extension opens (estimated 2029), walk scores are lower (55–65), and the multiplex market is unproven. One in 10 Surrey families already lives multi-generationally, so the demand is there. If you can handle a longer timeline, buying near a planned SkyTrain station before it opens is how fortunes got made in other corridors.
North Vancouver (Lonsdale)
4,900 single-family lots rezoned for 4–6 units as of Jan 2026. An additional 1,940 properties along the 230/240 bus corridors are being added in mid-2026.
Mountain views, waterfront access, and the Lonsdale Quay. North Van feels like a small town that happens to be 12 minutes by SeaBus from downtown. The City adopted aggressive SSMUH zoning in December 2025, making nearly every single-family lot eligible for multiplex development. Strong schools, low crime, and outdoor lifestyle appeal. The premium you pay in land costs is offset by higher end-unit values — North Van buyers will pay more per square foot than East Van buyers.
Marpole
25+ applications. Canada Line access at Marine Drive. Larger lot sizes support 6-unit builds. Active community plan with density bonuses.
Marpole sits between the west side premium and east side affordability. The Canada Line gives you a 15-minute ride to downtown or a quick hop to YVR. Granville Street is getting a facelift with new restaurants and shops. Lot sizes tend to run larger than East Vancouver, which helps the project economics for 6-unit builds even at higher land prices. The neighbourhood has a quieter, residential feel compared to the busier east side corridors. A solid middle-ground choice for buyers who want west side proximity without Kitsilano prices.
Sources: VanPlex neighbourhood guide (2026), CBRE multiplex report (Feb 2026), City of North Vancouver SSMUH adoption (Dec 2025), City of Surrey SSMUH data, Walk Score.
Multiplex Activity by Area
Land sales and applications filed through January 2026. East Vancouver dominates the pipeline.
Sources: VanPlex permit tracker (Jan 2026), CBRE multiplex land sales report (Feb 2026), Burnaby SSMUH applications (Feb 2026). Surrey and Port Moody counts reflect early-stage applications only.
What Buyers Are Saying
Real opinions from forums, community discussions, and local real estate groups — compiled so you don't have to scroll through 200 threads.
East Van vs. Burnaby
Most agree East Van has more character, but Burnaby's lower prices and SkyTrain access make it the pragmatic choice.
"East Van has the soul. Burnaby has the spreadsheet. Both have the SkyTrain."
"We looked at Hastings-Sunrise but ended up in Edmonds. Saved $300K on land and the commute is the same."
"If you want to walk to a decent coffee shop, East Van. If you want to park for free, Burnaby."
Surrey: Worth the Gamble?
Divided. Optimists point to the SkyTrain extension and cheap land. Skeptics say transit is too far out and the market is unproven.
"Surrey in 2026 feels like East Van in 2015. Cheap, overlooked, and about to have rapid transit."
"The land is cheap for a reason. Show me one completed multiplex sale in Fleetwood before I believe the hype."
"We bought near the planned 140th St station. Either we look smart in 3 years or we learn patience."
North Van: Premium or Overpriced?
Families love it for schools and lifestyle. The numbers are tight, but end-unit values hold up because North Shore buyers pay a premium.
"You're paying for the mountains and the schools. No amount of spreadsheet logic explains it — people just want to live here."
"The SeaBus is underrated. 12 minutes to Waterfront, no traffic."
"Land is more expensive, but you sell units for more. The margin works out similar to East Van."
The West Side Debate
Nearly everyone agrees the west side math doesn't work for multiplex investment. But owner-occupiers building for their own families play by different rules.
"$4M for land in Kits? You need to sell units at $1,500/sqft. Good luck finding buyers who aren't your own family."
"West side multiplexes are family compounds, not investment plays. Different math entirely."
"If you're building for your parents and your kids, $4M split four ways is $1M each. That's actually doable for some families."
Compiled from Reddit r/vancouver, r/PersonalFinanceCanada, and r/canadahousing discussions (2024–2026), local real estate forums, and VanPlex community feedback. Quotes are paraphrased for clarity.
Where 6-Unit Density Is Allowed
Bill 44 allows 6 units on lots over 280m² within 400m of frequent transit (15-min bus service, 7am–7pm). Vancouver's R1-1 zone goes further — 6 strata or 8 rental units city-wide. Here's where the transit corridors run.
- •All former single-family zones consolidated into R1-1
- •No transit proximity requirement — applies everywhere
- •497 applications filed as of Jan 2026
- •Hastings St. corridor (east–west)
- •Kingsway corridor (through Edmonds, Metrotown)
- •SkyTrain station areas (Expo + Millennium lines)
- •47 active applications as of Feb 2026
- •4,900 lots rezoned Dec 2025 (4–6 units)
- •1,940 more along 230/240 bus corridors (mid-2026)
- •Grand Blvd, Keith Lynn, Moodyville, Mahon Park areas
- •King George Blvd frequent transit corridor
- •Fraser Highway (future SkyTrain, 8 new stations)
- •Fleetwood Town Centre (2,400+ lots near station)
- •65,000+ total eligible lots
- •Moody Centre and Inlet Centre SkyTrain areas
- •St. Johns Street corridor
- •Portwood development area (2,000 units planned)
- •Millennium Line extension to UBC (under construction)
- •New stations at Arbutus, South Granville, Broadway-City Hall area
- •Will create new 400m transit eligibility zones along corridor
Sources: BC Gov Bill 44 SSMUH legislation, City of Vancouver R1-1 consolidation (2024), City of North Vancouver SSMUH adoption (Dec 2025), City of Burnaby R1 SSMUH district (Dec 2025), TransLink frequent transit network map, Surrey-Langley SkyTrain project overview.
The bottom line
East Vancouver dominates the multiplex pipeline and it's not close. Hastings-Sunrise alone has more closed land sales than all of Burnaby, North Van, Surrey, and Port Moody combined. The development math works because the land is the right price, the lots are the right size, and the permitting infrastructure is the most mature in the region. For buyers, that means more comparable sales, proven builders, and a deeper rental pool.
Every municipality offers something different. North Van's schools and lifestyle justify the premium for families planning to hold 15+ years. Surrey's land prices run 30–50% cheaper — ideal for cost-sensitive buyers willing to get in ahead of transit infrastructure arriving in 2029. Burnaby combines lower costs with existing SkyTrain access. The key is matching your priorities to the neighbourhood that delivers them.
The timing is working in buyers' favour. The multiplex market cooled in 2025 — 46 land sales versus 124 the year before — and that correction created real opportunity. Land prices have softened 10–15% from peak in several East Van neighbourhoods, and permit processing times improved from 8.4 months down to 6.2 months. The frenzy is over. What's left is a maturing market where fundamentals drive decisions, not hype.
Pick your neighbourhood based on three things: can the project economics work at current land prices, does the area have the transit and walkability to attract tenants and future buyers, and would you personally want to live there for the next decade. If the answer to all three is yes, you've found your spot. Dive into the Playbook for guides on financing, ownership, and more — or talk to our team. We know these neighbourhoods inside and out.
Data: VanPlex neighbourhood analysis (Jan 2026), CBRE multiplex land sales (Feb 2026), liv.rent March 2026 rent report, REBGV MLS HPI (Feb 2026), City of Vancouver R1-1 memo, Walk Score, TransLink.
Key Takeaways
- Hastings-Sunrise leads Vancouver multiplex activity with 66 land sales at $1.9M average.
- Killarney offers the lowest land entry point at $1.5M per lot in Vancouver.
- Burnaby construction costs run $380–$420/sqft — 15–20% cheaper than Vancouver.
- Surrey has 65,000+ single-family lots eligible for multiplex development under Bill 44.
- Only 2% of GVRD lots show viable economics — neighbourhood selection matters more than zoning.
- Transit proximity unlocks 6-unit density under Bill 44, boosting project feasibility on qualifying lots.
Frequently Asked Questions
What is the best neighbourhood to buy a multiplex in Vancouver?
Hastings-Sunrise leads in multiplex activity with 66 land sales and an average lot price of $1.9M. It offers the best combination of affordability, transit access, and proven development activity as of early 2026.
The answer depends on your budget and goals. Hastings-Sunrise has the most completed sales because lots are large enough for 4–6 units and land costs are manageable relative to end-unit values. Renfrew-Collingwood is similar but slightly cheaper. Killarney has the lowest entry point at $1.5M but is further from transit. On the west side, Marpole has larger lots near the Canada Line, but land costs push past $2.5M. Burnaby's Edmonds area is emerging as a strong alternative with lower construction costs and SkyTrain access. The 'best' area is the one where your project economics work — not the trendiest neighbourhood.
How much does multiplex land cost in Vancouver?
Multiplex development lots in Vancouver range from $1.5M in Killarney to over $4.4M in Kitsilano and Kerrisdale. The east side averages $1.5M–$2.2M, while the west side runs $2.5M–$4.4M per lot.
These numbers reflect 2024–2025 closed sales tracked by VanPlex and CBRE. In 2025, only 46 multiplex land sales closed in Vancouver, totalling $114M — a sharp drop from 124 sales and $303M in 2024. The slowdown has softened asking prices in several neighbourhoods. East Vancouver remains the volume leader because the development math — land cost divided by the number of saleable units — produces end prices that buyers can actually afford. A $1.9M lot in Hastings-Sunrise split into 4 units needs to generate roughly $475K per unit in land cost alone before construction. On the west side, a $4M lot requires $1M+ per unit, which limits your buyer pool to luxury purchasers.
Is Burnaby or Surrey better than Vancouver for a multiplex?
Burnaby offers 15–20% lower construction costs ($380–$420/sqft vs. Vancouver's $400–$500/sqft) with SkyTrain access. Surrey has 65,000+ eligible lots and the cheapest land, but most projects are still early-stage.
Each municipality has trade-offs. Vancouver has the most mature multiplex market with 497 applications filed and a permitting team that has cut processing times to 6.2 months. Burnaby adopted SSMUH zoning in late 2025 with 47 active applications, but its December 2025 bylaw changes reduced height limits to 10m and cut lot coverage by 5–10%, making some projects harder to pencil. Surrey has the sheer volume play — over 65,000 eligible lots — but the municipality is still early in its multiplex implementation and fewer completed projects exist as references. The Surrey-Langley SkyTrain extension (targeting 2029) will be transformative for Fleetwood and Clayton. Right now, Burnaby is the strongest alternative to Vancouver. In two years, Surrey could overtake both.
Which Vancouver neighbourhoods qualify for 6-unit multiplex zoning?
Under Bill 44, any lot over 280 square metres within 400m of a frequent transit stop (15-minute bus service, 7am–7pm weekdays) qualifies for 6 units. Vancouver's own R1-1 zone already allows up to 6 strata or 8 rental units city-wide.
Vancouver is ahead of the province here. When the City consolidated nine residential zones into R1-1 in 2024, it effectively gave 6-unit zoning to most single-family lots regardless of transit proximity. That means neighbourhoods like Dunbar-Southlands, which has weaker transit scores, still get 6-unit eligibility under city rules. Outside Vancouver, the transit requirement matters more. In Burnaby, the 6-unit corridor runs along Hastings Street, Kingsway, and the SkyTrain lines. In North Vancouver, areas near the 230 and 240 bus routes qualify. The City of North Van is expanding eligibility to 1,940 additional properties along these corridors in 2026. The practical question is not just zoning but whether the lot is big enough — 280 square metres is about 3,000 square feet, which excludes some smaller urban lots.
What are Walk Scores for Vancouver multiplex neighbourhoods?
Downtown Vancouver scores 96 for walkability and 98 for transit. Key multiplex areas score well: Mount Pleasant 88, Commercial Drive 78, Kitsilano 89. Vancouver's city-wide average is 80, meaning no neighbourhood is car-dependent.
Walk Score matters for multiplex buyers because higher scores correlate with stronger rental demand and resale values. Downtown has the highest scores but minimal multiplex activity due to existing density. The sweet spot for multiplex buyers is areas scoring 70–90: good enough to attract tenants without transit-adjacent land premiums. Hastings-Sunrise and Renfrew-Collingwood score in the low-to-mid 70s — walkable enough for daily errands and transit commuting, but not so central that land prices kill the project economics. Burnaby's Metrotown area scores similarly, around 75–80. Surrey's suburban areas are lower, typically 50–65, which works for family-oriented buyers but may reduce rental pool depth.
How has Vancouver's multiplex market changed in 2025–2026?
Multiplex land sales dropped from 124 in 2024 to 46 in 2025, totalling $114M vs. $303M. But permit processing improved to 6.2 months from 8.4 months, and 497 total applications have been filed through January 2026.
The market is maturing, not dying. The 2024 frenzy was driven by first-mover land speculation — builders racing to lock up lots before prices adjusted. In 2025, higher interest rates and construction costs forced a correction. The positive signals: permitting is faster, the City has scaled its review team, and completed projects are now hitting the resale market, giving buyers real comparables instead of speculation. CBRE data shows the average lot still trades at a premium over single-family-only comparables, meaning the development premium has not evaporated. The slowdown actually benefits end-buyers because it has cooled land prices 10–15% from 2024 peaks in several East Vancouver neighbourhoods.
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