9720 RAILWAY AVENUE, Richmond

$1,990,000

This 11,248 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.

PRIME INVESTMENT & DEVELOPMENT OPPORTUNITY! Exceptional 75’ x 150’ (11,248 SF) property on Richmond’s Railway Avenue arterial corridor, offering excellent rental income and multifamily redevelopment potential under existing City policies. An ideal holding property with strong rental income potential while exploring future development opportunities. Consider townhouse, multiplex or purpose-built rental development options. Qualifying multifamily rental projects may be eligible for up to 90%+ CMHC financing under MLI Select. Outstanding family location near highly ranked Jessie Wowk Elementary (9.2/10), Richmond Christian School and Steveston-London Secondary. An exceptional opportunity to generate rental income while planning future development!

How this price compares

This lot asks $177 per square foot of lot. That is 16% below the median of $212 across the 175 active lots VanPlex is showing in Richmond, and puts it 40 of 175 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: $1,990,000
Lot size: 11,248 sqft
Lot dimensions: 75 x 150
Frontage: 75 ft
Bedrooms: 3
Bathrooms: 3
Year built: 1972
Zoning: RSM/L
MLS® area: Lackner
MLS® number: R3155514

Want the PlexScore and return on equity for this lot? Try PlexPro free for 14 days. Cancel before day 14 and you pay nothing.

Listing data via MLS®. Displayed for information only. Zoning RSM/L stamped from the city record on 2026-08-13.