Condo
$308,000
26% less per sq ft225 8120 COLONIAL DRIVE
Richmondlisted today
MLS® R3174180
1 / 19
3 bed · 1 bath · 1,054 sq ft · 1 parking
Condo · Single Family · built 1974 · 164 days on market
Listed by Sylvain Istifan, Macdonald Realty Westmar
Realtor's description
This bright and spacious 3 bedroom home offers incredible value, featuring a functional layout and large in suite storage/den. Ideal for first time buyers or investors. The home includes an updated kitchen, bathroom and flooring, and the building has completed major upgrades including new envelope, windows, re-piping, balconies, and parkade upgrades. The maintenance fee covers property taxes, heat, hot water, caretaker, management, insurance, sewer and water. Located in the desirable Granville area of Richmond, just steps from McKay Elementary, Burnett Secondary, Thompson Community Centre, Nearby Bus Stops & Parks, all just steps away. Don't miss this opportunity.
Property details
- Type
- Condo, Single Family
- Bedrooms
- 3
- Bathrooms
- 1
- Living area
- 1,054 sq ft
- Parking
- 1
- Year built
- 1974
- Strata fee
- $1,052 / mo ($1.00 / sq ft)
- Strata rules
- Pets not Allowed
- Days on market
- 164
- MLS®
- R3116734
Features
- Central location
- Pets not Allowed
- All
Monthly cost
$2,141/mo
Mortgage $1,089 · Strata $1,052
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
- $124/mo
- Cap rate
- 5.8%
- yearly net rent ÷ price
Costs: mortgage $1,089 · strata $1,052 · 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 Donald E McKay Elementaryhomes in this catchment
300 m away · 7360 Lombard Rd, Richmond · 604-668-6470
- Secondary J.N. Burnett Secondaryhomes in this catchment
400 m away · 5011 Granville Ave, Richmond · 604-668-6478
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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