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$668,000

508 7008 RIVER PARKWAY

Richmond · MLS® R3125985

2 bed · 2 bath · 877 sq ft · 1 parking

Condo · Single Family · built 2017 · 140 days on market

Listed by Woody Chau, Royal Pacific Realty Corp.

Realtor's description

Bright North East-facing 2 Bed + Den home at sought-after Riva, featuring a functional open layout, spacious living and dining areas, well-sized bedrooms, and a versatile den perfect for a home office or extra storage. Equipped with A/C for year-round comfort. Includes 1 parking and 1 locker. Set in a desirable waterfront community in central Richmond, close to shopping, restaurants, parks, and transit. Excellent opportunity for both end users and investors.

Property details

Type: Condo, Single Family
Bedrooms: 2
Bathrooms: 2
Living area: 877 sq ft
Parking: 1
Year built: 2017
Property tax: $2,427 / yr
Strata fee: $679 / mo ($0.77 / sq ft)
Strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
Days on market: 140
MLS®: R3125985

Features

Elevator
Pets Allowed With Restrictions
Rentals Allowed With Restrictions
All
Hot Tub

Price check

Typical for the area (-4.0%)

Price per sq ft: $762 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 140 days · no price changes so far

The market here

Listed now: 70 days; median for 828 condos for sale; this one 140 days

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

Monthly cost

$3,792/mo

Mortgage $2,910 · Tax $202 · Strata $679

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

estimated payment

$2,910/ monthly

loan $534,400

25-year amortization

down payment20% · $133,60020%+ 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: $338,724
property transfer tax: $11,360; BC general rate
cash to close: $144,960; down + PTT
total paid: $873,124

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: $2,046/mo
After all costs: −$1,944/mo
Cap rate: 1.7%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,910 · tax $202 · strata $679 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent starts at CMHC's average for a 2-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 City Centre Elementaryhomes in this catchment
Secondary Richmond Secondaryhomes in this catchment
1.7 km away · 7171 Minoru Blvd, Richmond · 604-668-6400

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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