Condo
$308,000
27% less per sq ft225 8120 COLONIAL DRIVE
Richmondlisted today
MLS® R3174180
1 / 19
1 bed · 1 bath · 437 sq ft
Condo · Single Family · built 2023 · 101 days on market
Listed by Min Xie, Sweetome Realty
Realtor's description
Excellent investment opportunity at Paramount by Keltic! This well-maintained 427 sq.ft. studio features an efficient open layout with A/C, heat pump, premium Bosch appliances, quartz countertops, 9' ceilings, in-suite laundry, and mountain/city views. Enjoy exceptional amenities including concierge, fitness centre, lounge, games room, meeting room, guest suite, outdoor garden and children's play area. Unbeatable Richmond City Centre location, steps to Richmond Centre, Brighouse SkyTrain Station, restaurants, shopping, banks, and everyday conveniences. Currently tenanted at $2,000/month with lease expiring December 2026, providing immediate rental income for investors. Showings by appointment only with reasonable notice. Buyer to verify all measurements if deemed important.
Property details
- Type
- Condo, Single Family
- Bedrooms
- 1
- Bathrooms
- 1
- Living area
- 437 sq ft
- Parking
- 0
- Year built
- 2023
- Property tax
- $1,693 / yr
- Strata fee
- $337 / mo ($0.77 / sq ft)
- Days on market
- 101
- MLS®
- R3141170
Features
- Elevator
Monthly cost
$2,216/mo
Mortgage $1,738 · Tax $141 · Strata $337
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
- −$710/mo
- Cap rate
- 3.1%
- yearly net rent ÷ price
Costs: mortgage $1,738 · tax $141 · strata $337 · 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 William Cook Elementaryhomes in this catchment
600 m away · 8600 Cook Rd, Richmond · 604-668-6454
- Secondary A.R. MacNeill Secondaryhomes in this catchment
1.4 km away · 6611 No. 4 Rd, Richmond · 604-668-6212
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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