202 8700 Westminster Highway

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$419,000

202 8700 Westminster Highway

Richmond · MLS® R3179562

all units at 8700 Westminster Hwy →

111

661 sq ft · Condo · Single Family · built 1988 · listed today

listed by Catherine Cheung, Multiple Realty Ltd.

realtor's description

"Canadian Place" - Amazing Location - walking distance to Kwantlen College, Lansdown Mall, Richmond Centre, T&T Supermarket, BC transit nearby. Rarely sales available at this complex, cozy gas fireplace and functional layout throughout. One cat or dog (up to 50lbs). Visitor parking off lane. 1 Parking, 1 Locker. Affordable living. The location is between 2 elementary school catchments, walking distance to both (Cook and Henry Anderson Elementary). The building exterior is upgraded with a new look, lights and garden area. The unit is recently renovated with new kitchen/bathroom and upgraded with all new appliances. Rental and pets allowed.

property details

type: Condo, Single Family
bedrooms: 1
bathrooms: 1
living area: 661 sq ft
parking: 1
year built: 1988
property tax: $1,306 / yr
strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
days on market: 0
MLS®: R3179562

features

Central location
Elevator
Gated community
Pets Allowed With Restrictions
Rentals Allowed With Restrictions
All

the market here

listed now: 73 days; median for 784 condos for sale; this one listed today

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

monthly cost

$1,953/mo

Mortgage $1,844 · Tax $109

20% down at 4.44% fixed (Ratehub.ca), 25 years; tax from the listing.

estimated payment

$1,844/ monthly

loan $335,200

25-year amortization

down payment20% · $83,80020%+ down: no mortgage insuranceinterest rate4.44%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 29, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $218,023
property transfer tax: $6,380; BC general rate
cash to close: $90,180; down + PTT
total paid: $553,223

first-time buyernewly builtforeign national

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer. Transfer tax: 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyers pay nothing on the first $500k for homes up to $835k (phasing out by $860k); newly built homes are exempt up to $1.1M (phasing out by $1.15M). Both need Canadian citizenship or permanent residence and other conditions; the 20% foreign buyer tax applies in Metro Vancouver, the Fraser Valley, the Capital Region, Central Okanagan and Nanaimo.

if you rented it out

rent: $1,920/mo
after all costs: −$221/mo
cap rate: 4.6%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $1,844 · tax $109 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 1-bedroom in Richmond: CMHC's average there ($1,676) raised by what new tenants pay against everyone in the Vancouver area, then down 1.5% with Vancouver's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) 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