Condo
$699,900
503 23222 GILLEY ROAD
Richmond105 days on market
MLS® R3140400
1 / 19
3 bed · 1 bath · 978 sq ft · 1 parking
Condo · Single Family · built 1982 · 137 days on market
Listed by Nick Cao, Interlink Realty
Realtor's description
Location! Location! Location! Beautiful 3 Bedroom, perfect for families, first-time buyers, or investors. Some renovations including paint, laminate floor, lighting fixtures and some appliances. Insuite laundry. Enjoy a private balcony with stunning Mount Baker and panoramic views. Well-managed concrete building with low strata fees including heat, hot water, electricity plus 1 parking and 1 locker. Prime location near Richmond Centre, Minrou Centre, library, restaurants, and transit-offering both comfort and convenience. Top School catchment: Ferris Elementary & Richmond High Secondary with IB program.
Property details
- Type
- Condo, Single Family
- Bedrooms
- 3
- Bathrooms
- 1
- Living area
- 978 sq ft
- Parking
- 1
- Year built
- 1982
- Property tax
- $1,932 / yr
- Strata fee
- $486 / mo ($0.50 / sq ft)
- Strata rules
- Pets not Allowed
- Days on market
- 137
- MLS®
- R3127804
Features
- Central location
- Elevator
- Gated community
- Pets not Allowed
- All
Floor plans
Found among the listing photos.
Monthly cost
$3,035/mo
Mortgage $2,388 · Tax $161 · Strata $486
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
- $2,500/mo
- After all costs
- −$770/mo
- Cap rate
- 3.5%
- yearly net rent ÷ price
Costs: mortgage $2,388 · tax $161 · strata $486 · 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 W D Ferris Elementaryhomes in this catchment
900 m away · 7520 Sunnymede Cres, Richmond · 604-668-6538
- Secondary Richmond Secondaryhomes in this catchment
400 m 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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