7340 SCHAEFER AVENUE, Richmond
$1,699,000
This 7,020 sqft property in Richmond is a detached single-family home on a lot the new rules make suitable for a multiplex. Richmond applies the provincial small-scale housing rules, so most single-family lots allow three to four homes, and up to six near frequent transit. Richmond's flat, regular lots often make the layout simpler than in hillier cities.
Exceptional opportunity in the highly sought-after Broadmoor neighbourhood! Situated on a quiet 60' x 117' lot with a sunny south-facing backyard, this property offers excellent redevelopment potential for builders, investors, or families looking to build their dream home. Zoned RSM/L with Small-Scale Multi-Unit Housing potential (Buyer to verify with the City of Richmond). The existing 4-bedroom, 3-bathroom home, requires significant TLC and is being sold as is, where is. Conveniently located just a 5-minute walk to transit and a 3 minute drive to Richlea Shopping Centre, Broadmoor Village, South Arm Community Centre, groceries, restaurants, and amenities. Located within the desirable Ferris Elementary and Richmond Secondary catchments, this is a rare opportunity in a prime location.
How this price compares
This lot asks $242 per square foot of lot. That is 11% above the median of $218 across the 188 active lots VanPlex is showing in Richmond, and puts it 127 of 188 from cheapest to most expensive. Asking prices only, taken from the current MLS® feed.
Land price per square foot is only one input. Frontage, lane access, slope, and how many homes the zoning actually allows decide what a lot is worth to a builder.
Lot and property details
- Price
- $1,699,000
- Lot size
- 7,020 sqft
- Lot dimensions
- 60 x 117
- Frontage
- 60 ft
- Bedrooms
- 4
- Bathrooms
- 3
- Year built
- 1976
- Zoning
- RSM/L
- MLS® area
- Broadmoor
- MLS® number
- R3166758
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Listing data via MLS®. Displayed for information only. Zoning RSM/L stamped from the city record on 2026-09-17.