7480 SCHAEFER AVENUE, Richmond
$1,668,000
This 7,195 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.
Incredibly priced at $1,668,000 for this 1,904 sq.ft., 4-bedroom, 2-bath, 1975-built rancher on a 7,195 sq.ft. (61. 5’ x 117’) lot with sunny, south-facing backyard. Located north of Francis Rd, neighbouring prestigious Sunnymede in central Richmond. Ferris Elementary & Richmond High catchment. First time on market since 1996. With some basic upgrades, home will be perfect for starting, retiring or investment. Better yet, under Small-Scale Multi-Unit Housing (SSMHU) zoning, redevelop (without rezoning) into 3–4 units, up to a total of 4,519.5 sq.ft.. Preferred completion November 16, 2026.
How this price compares
This lot asks $232 per square foot of lot. That is 7% above the median of $218 across the 188 active lots VanPlex is showing in Richmond, and puts it 116 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
- $1,668,000
- Lot size
- 7,195 sqft
- Lot dimensions
- 61.5 x 117
- Frontage
- 61.5 ft
- Bedrooms
- 4
- Bathrooms
- 2
- Year built
- 1975
- Zoning
- RSM/L
- MLS® area
- Broadmoor
- MLS® number
- R3167449
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Listing data via MLS®. Displayed for information only. Zoning RSM/L stamped from the city record on 2026-09-19.