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$626,000

603 7008 RIVER PARKWAY

Richmond · MLS® R3135570

All units at 7008 River Pky →

1 bed · 1 bath · 546 sq ft · 1 parking

Condo · Single Family · built 2016 · 118 days on market

Listed by Jiwei Zhang, Luxmore Realty

Realtor's description

Enjoy riverside living at RIVA3 by award-winning Onni Group! Central location, walking distance to skytrain station, T&T Supermarket, Real Canadian Superstore, Lansdown mall, Olympic Oval and much more. This spacious RIVER facing Air-Conditioned 1 bedroom home, with a big balcony, features modern finishings including engineering hardwood flooring, soft-close wood cabinetry, composite stone countertops with extended breakfast bar, premium stainless steel appliances. Stay active close to home with 12,000 square ft of private amenity space featuring a fitness centre, game room, party room, indoor pool with hot tub and sauna and more. 1 parking+1 locker! Excellent school catchment - Richmond Secondary &Bridge Elementary. A Must see beautiful unit.

Property details

Type: Condo, Single Family
Bedrooms: 1
Bathrooms: 1
Living area: 546 sq ft
Parking: 1
Year built: 2016
Property tax: $1,706 / yr
Strata fee: $406 / mo ($0.74 / sq ft)
Strata rules: Pets Allowed With Restrictions, Rentals Allowed With Restrictions
Days on market: 118
MLS®: R3135570

Features

Elevator
Trash compactor
Pets Allowed With Restrictions
Rentals Allowed With Restrictions
All

Price check

2026 assessment: $482,000 · asking is +30%
Price per sq ft: $1,147 vs $794 median for condos in Richmond for sale (824)

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 118 days · no price changes so far

The market here

Listed now: 66 days; median for 855 condos for sale; this one 118 days

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

Property tax by year

Year	Assessed	Est. tax
2026	$482,000	$1,705

The listing shows $1,706 a year in property tax.

Estimate: the BC Assessment value times Richmond's residential tax rate for that year (Province of BC, local government statistics). Leaves out the home owner grant, parcel taxes and utility charges; the city's tax notice is the real figure.

Monthly cost

$3,275/mo

Mortgage $2,727 · Tax $142 · Strata $406

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

estimated payment

$2,727/ monthly

loan $500,800

25-year amortization

down payment20% · $125,20020%+ down: no mortgage insuranceinterest rate4.34%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 9, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $317,427
property transfer tax: $10,520; BC general rate
cash to close: $135,720; down + PTT
total paid: $818,227

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: $1,676/mo
After all costs: −$1,768/mo
Cap rate: 1.8%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $2,727 · tax $142 · strata $406 · 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

The building's lot: 5,870 m² (63,184 sq ft) · PID 030-207-533. From ParcelMap BC; property lines are approximate, a survey is the legal boundary.

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.

Good to know

Wildfire
The BC Wildfire Service rates Vancouver's wildland urban interface as risk class 5 of 5 (lowest; 1 is the highest). One wildfire of 10 hectares or more burned within 5 km since 2006: 2018 (13 ha). Some insurers price for wildfire, and FireSmart BC has a free home assessment guide.
Source: BC Wildfire Service, WUI risk class and fire perimeters

From public government maps, matched to the listing's map pin. Maps can be out of date or miss a lot line; confirm with the municipality.

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