Condo
$308,000
27% less per sq ft225 8120 COLONIAL DRIVE
Richmondlisted today
MLS® R3174180
1 / 14
1 bed · 1 bath · 523 sq ft · 1 parking
Condo · Single Family · built 1977 · 424 days on market
Listed by Eleanor Tan, Royal LePage Westside
Realtor's description
Welcome to Cherry Tree Place! This affordable 1-bedroom condo offers 523 square ft of comfortable living in a quiet, family-friendly community in Richmond´s Boyd Park. Featuring laminate flooring, and in-suite laundry, this upper-level unit is bright and well-kept with a functional layout and peaceful views of surrounding greenery. Enjoy access to outdoor pool, playground, and nearby walking trails. Rentals allowed, low strata fees, and 1 parking. Just steps to transit, schools, shopping, and the Grauer Neighborhood School Park nearby. Perfect for first-time buyers or investors!
Property details
- Type
- Condo, Single Family
- Bedrooms
- 1
- Bathrooms
- 1
- Living area
- 523 sq ft
- Parking
- 1
- Year built
- 1977
- Property tax
- $1,121 / yr
- Strata fee
- $297 / mo ($0.57 / sq ft)
- Strata rules
- Pets Allowed With Restrictions, Rentals Allowed With Restrictions
- Days on market
- 424
- MLS®
- R3035978
Features
- Elevator
- Pets Allowed With Restrictions
- Rentals Allowed With Restrictions
- Refrigerator
- Stove
- Washer & Dryer
Monthly cost
$1,959/mo
Mortgage $1,568 · Tax $93 · Strata $297
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
- −$452/mo
- Cap rate
- 3.7%
- yearly net rent ÷ price
Costs: mortgage $1,568 · tax $93 · strata $297 · 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
300 m away · 4440 Blundell Rd, Richmond · 604-668-6547
- Secondary Hugh Boyd Secondaryhomes in this catchment
1.2 km 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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