8220 GILBERT ROAD, Richmond
$2,790,000
This 15,067 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.
Prestigious Sunnymede! Rare 15,067 sq. ft. lot (95.27’ x 158’) in one of Richmond’s most desirable neighborhoods. The property offers excellent development potential, with a current City application for 4 duplex homes of approximately 2,100 sq. ft. each. Other possibilities include acquiring the neighboring 8200 Gilbert Road for potential townhouse development, or subdividing the lot to build two approximately 3,500 sq. ft. homes, subject to City approval. Currently rented at $1,400/month on a month-to-month tenancy. No sign on property. Buyer to verify all development potential with the City of Richmond.
How this price compares
This lot asks $185 per square foot of lot. That is 15% below the median of $218 across the 191 active lots VanPlex is showing in Richmond, and puts it 53 of 191 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
- $2,790,000
- Lot size
- 15,067 sqft
- Lot dimensions
- 0 x
- Frontage
- 0 ft
- Bedrooms
- 2
- Bathrooms
- 1
- Year built
- 1948
- MLS® area
- Broadmoor
- MLS® number
- R3159572
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Listing data via MLS®. Displayed for information only.