Condo
$619,900
8% less per sq ft416 23222 GILLEY ROAD
Richmond113 days on market
MLS® R3137277
1 / 17
1 bed · 2 bath · 957 sq ft · 1 parking
Condo · Single Family · built 1975 · 22 days on market
Listed by John Freire, RE/MAX Heights Realty
Realtor's description
Fantastic opportunity for first-time buyers, investors, or anyone looking to create a home of their own! This ground-level 1-bedroom, 1.5-bathroom unit offers an open floor plan, massive private patio with bonus bycicle storage and the unique convenience of direct access from outside-no need to navigate common hallways. The spacious layout could very easily and inexpensively be transformed into a 2-bedroom home, offering excellent flexibility and added value. This home is in graet shape and very liveable as is, but with some updating/renovations this could be the ideal place for someone looking to bring their own vision to life and build sweat equity. Amazing location with incredible amenities, close to shopping, transit, recreation, and everyday amenities. Don´t miss this opportunity!
Property details
- Type
- Condo, Single Family
- Bedrooms
- 1
- Bathrooms
- 2
- Living area
- 957 sq ft
- Parking
- 1
- Year built
- 1975
- Property tax
- $1,778 / yr
- Strata fee
- $565 / mo ($0.59 / sq ft)
- Strata rules
- Pets Allowed With Restrictions, Rentals Allowed With Restrictions
- Days on market
- 22
- MLS®
- R3166777
Features
- Central location
- Private setting
- Elevator
- Pets Allowed With Restrictions
- Rentals Allowed With Restrictions
- All
Monthly cost
$2,970/mo
Mortgage $2,257 · Tax $148 · Strata $565
20% down at 4.34% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.
If you rented it out
- Rent
- $1,676/mo
- After all costs
- −$1,463/mo
- Cap rate
- 1.8%
- yearly net rent ÷ price
Costs: mortgage $2,257 · tax $148 · strata $565 · 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 ↗
Schools
Catchment schools, Richmond School District 38
- Elementary R M Grauer Elementaryhomes in this catchment
500 m away · 4440 Blundell Rd, Richmond · 604-668-6547
- Secondary Hugh Boyd Secondaryhomes in this catchment
700 m away · 9200 No. 1 Rd, Richmond · 604-668-6615
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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