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Mill Pond, Richmond Hill
$2,199,000
ATTENTION BUILDERS, DEVELOPERS & INVESTORS - DON'T MISS THIS RARE OPPORTUNITY!A rare opportunity to acquire a substantial infill development site in the highly desirable Yonge Street and Elgin Mills corridor of Richmond Hill. Featuring an impressive 102 x 212 ft lot, this property offers significant redevelopment potential in a supply-constrained market. The proposed development envisions 10 to 11 spacious, freehold townhomes, each approximately2,000 sq. ft., featuring three-storey layouts, attached single-car garages, and private rooftop terraces. A site plan is available for review. The property may also offer potential for a purpose-built rental apartment development through the CMHC (Canadian Housing And Mortgage Corporation) purpose built rental Program! Ideally located just steps from Yonge Street, the property offers convenient access to public transit, shopping, schools, parks, Mill Pond, the hospital, and a wide range of everyday amenities. The existing homes may also provide rental income during the holding period, subject to their condition and applicable requirements. A PRIME INFILL OPPORTUNITY WITH MULTIPLE DEVELOPMENT POSSIBILITIES. Whether you're a builder looking for your next townhouse project, a developer exploring purpose-built rental housing, oran investor seeking long-term value, this property deserves your immediate attention. Opportunities like this are rare - secure your position in one of Richmond Hill's desirable growth corridors. Contact me today to request the available site plan, discuss the development potential, and arrange a private property showing. Bring your vision, explore the possibilities, and take the next step toward your next successful project!
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| Type | Detached |
| Style | Bungalow |
| Approx. Age | Not available |
| Size | 700-1100 sq. ft. |
| Property Tax | $8,019 |
| Lot Size | 102.68 ft x 212.16 ft |
| mls© Number | N14119826 |
| Listed By | RE/MAX REALTRON REALTY INC. |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
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What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $11,255
- Property tax
- $668
- Heat allowance
- $150
- Housing costs
- $12,074 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$371,000
gross annual household income
- Payment at 4%
- $9,254 / mo
- Cash down
- $439,800
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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