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$339,000

108 8540 CITATION DRIVE

Richmond · MLS® R3136504

1 bed · 1 bath · 664 sq ft · 1 parking

Condo · Single Family · built 1979 · 113 days on market

Listed by Anna Chan, Sutton Group - 1st West Realty

Realtor's description

Exceptional value in the heart of Richmond! MOVE-IN READY! 1-Bedroom and Den unit featuring laminated flooring and crown molding. Conveniently located within walking distance of Richmond Centre and City Hall, close to bus station and SkyTrain. The building is well-maintained and includes fantastic amenities such as an outdoor pool, hot tub, and steam room. Excellent for first time buyer or downsizer! Call now to book your private showing!

Property details

Type: Condo, Single Family
Bedrooms: 1
Bathrooms: 1
Living area: 664 sq ft
Parking: 1
Year built: 1979
Property tax: $1,303 / yr
Strata fee: $317 / mo ($0.48 / sq ft)
Strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
Days on market: 113
MLS®: R3136504

Features

Central location
Pets Allowed With Restrictions
Rentals Allowed With Restrictions
Dishwasher

Price check

2026 assessment: $386,300 · asking is -12%
Price per sq ft: $511 vs $794 median for condos in Richmond for sale (827)

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.

Property insights

On market 113 days

The market here

Listed now: 70 days; median for 828 condos for sale; this one 113 days

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

Monthly cost

$1,903/mo

Mortgage $1,477 · Tax $109 · Strata $317

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

estimated payment

$1,477/ monthly

loan $271,200

25-year amortization

down payment20% · $67,80020%+ 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: $171,897
property transfer tax: $4,780; BC general rate
cash to close: $72,580; down + PTT
total paid: $443,097

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.

If you rented it out

Rent: $1,676/mo
After all costs: −$396/mo
Cap rate: 3.8%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $1,477 · tax $109 · strata $317 · 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

Location

RichmondGoogle Maps ↗

Location

RichmondGoogle Maps ↗

Schools

Catchment schools, Richmond School District 38

Elementary William Cook Elementaryhomes in this catchment
200 m away · 8600 Cook Rd, Richmond · 604-668-6454
Secondary A.R. MacNeill Secondaryhomes in this catchment
800 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.

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