Condo
$308,000
27% less per sq ft225 8120 COLONIAL DRIVE
Richmondlisted today
MLS® R3174180
1 / 19
3 bed · 2 bath · 1,209 sq ft · 1 parking
Condo · Single Family · built 1974 · 98 days on market
Listed by Bob Tai, Royal Pacific Tri-Cities Realty
Realtor's description
Roughly $303 per sqft, best price 3-bedrooms unit within 5 minutes walk to Canada Line Brighouse Station and Richmond Centre. Renovated with top quality material like crown molding, quartz countertops, kitchen backsplash, laminated flooring plus new electric range and dishwasher. This is a worry free building with all major building improvements completed as recently as 2023. No more planned assessment. Monthly maintenance fee includes property tax, caretaker, heating, hot water, water, sewer and garbage pickup. Leasehold property prepaid to December 2073. Includes 1 parking and 1 storage locker. With 6% net ROI, this unit is ideal for long term investors; and perfect for buyers planning bigger families with flexibilty of renting out one room as mortgage helper.
Property details
- Type
- Condo, Single Family
- Bedrooms
- 3
- Bathrooms
- 2
- Living area
- 1,209 sq ft
- Parking
- 1
- Year built
- 1974
- Strata fee
- $1,016 / mo ($0.84 / sq ft)
- Strata rules
- Pets not Allowed, Rentals Allowed With Restrictions
- Days on market
- 98
- MLS®
- R3142351
Features
- Central location
- Elevator
- Pets not Allowed
- Rentals Allowed With Restrictions
- Refrigerator
- Dishwasher
Floor plans
Found among the listing photos.
Monthly cost
$2,613/mo
Mortgage $1,598 · Strata $1,016
20% down at 4.34% fixed (Ratehub.ca), 25 years; strata fee from the listing.
If you rented it out
- Rent
- $2,500/mo
- After all costs
- −$348/mo
- Cap rate
- 4.1%
- yearly net rent ÷ price
Costs: mortgage $1,598 · strata $1,016 · insurance ~$35 · vacancy 3% · upkeep 5%.
Rent starts at CMHC's average for a 3+ bedroom in Richmond (CMHC Rental Market Survey, October 2025). Averages include long-time tenants, so new leases usually ask more; houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.
BC rules for landlords
- Short-term rentals are limited to the host's principal residence in most communities. gov.bc.ca
- Rent increases are capped once a year at the province's set amount. gov.bc.ca
- The speculation and vacancy tax applies in many areas to homes not lived in or rented out. gov.bc.ca
- Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca
Location
RichmondGoogle Maps ↗
Schools
Catchment schools, Richmond School District 38
- Elementary William Cook Elementaryhomes in this catchment
400 m away · 8600 Cook Rd, Richmond · 604-668-6454
- Secondary A.R. MacNeill Secondaryhomes in this catchment
1.2 km away · 6611 No. 4 Rd, Richmond · 604-668-6212
From the Richmond School District 38's published catchment maps. A catchment gives priority, not a guaranteed seat, and French immersion and choice programs work differently. The district confirms catchment: check with its school locator.
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