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$379,000

105 8740 CITATION DRIVE

Richmond · MLS® R3138373

1 bed · 1 bath · 694 sq ft · 1 parking

Condo · Single Family · built 1980 · 107 days on market

Listed by Morgan Browne, Oakwyn Realty Ltd.

Spacious and private south-facing 1-bedroom home in desirable Citation Mews. Bright and inviting with fresh paint, new carpeting, updated kitchen cabinetry, countertops, and modern light fixtures. Functional layout with generous living space and large windows for abundant natural light. In-suite laundry can be installed. Centrally located in Richmond, close to shopping, restaurants, schools, parks, and transit. An excellent opportunity for first-time buyers, downsizers, or investors.

Type: Condo, Single Family
Bedrooms: 1
Bathrooms: 1
Living area: 694 sq ft
Parking: 1
Year built: 1980
Property tax: $1,321 / yr
Strata fee: $376 / mo ($0.54 / sq ft)
Strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
Days on market: 107
MLS®: R3138373

Below typical for the area (-31%)

2026 assessment: $391,400 · asking is -3.2%
Price per sq ft: $546 vs $792 median for condos in Richmond for sale (829)

An estimate from public BC Assessment records, registered sales and the listings for sale right now, not an appraisal. Condition, renovations, views and lot all move real value.

Central location
Private setting
Treed
Elevator
Pets Allowed With Restrictions
Rentals Allowed With Restrictions

On market 107 days

Listed now: 70 days; median for 830 condos for sale; this one 107 days

Condos in Richmond. Sale prices register 1 to 3 months after a sale closes.

FloodplainNo
Not within a designated floodplain on the provincial floodplain maps. These maps are historical and don't cover every river or the coast.
Source: Province of BC, Mapped Floodplains in BC
Agricultural Land ReserveNo
Not inside the Agricultural Land Reserve on the provincial map.
Source: Agricultural Land Commission, ALR boundary
HeritageNo
Not on the BC Register of Historic Places or in a heritage conservation area.
Source: BC Heritage Branch, historic places and conservation areas

From public government maps, matched to the listing's map pin. Maps can be out of date or miss a lot line; confirm with the municipality.

Catchment schools, Richmond School District 38

Elementary William Cook Elementaryhomes in this catchment
300 m away · 8600 Cook Rd, Richmond · 604-668-6454
Secondary A.R. MacNeill Secondaryhomes in this catchment
700 m 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.

$2,137/mo

Mortgage $1,651 · Tax $110 · Strata $376

20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.

estimated payment

$1,651/ monthly

loan $303,200

25-year amortization

down payment20% · $75,80020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 7, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $192,180
property transfer tax: $5,580; BC general rate
cash to close: $81,380; down + PTT
total paid: $495,380

Estimates only. Rates change daily and lenders qualify at the stress-test rate; first-time-buyer and newly-built PTT exemptions aren't applied. Talk to a mortgage broker before you offer.

Rent: $1,676/mo
After all costs: −$630/mo
Cap rate: 3.2%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $1,651 · tax $110 · strata $376 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 1-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

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