$1,648,000 - 8 Gallacher Avenue, Richmond Hill
Detached for Sale in Richmond Hill
- MLS Number
- N13159072
- Property Type
- Detached
- Status
- active
- Days on Site
- 28
- Bedrooms
- 6
- Bathrooms
- 3
- Square Feet
- 2,000 - 2,499 sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- RE/MAX REALTRON REALTY INC.
Nestled in the prestigious Oak Ridges community on a premium 75 x 200 ft regular lot surrounded by multi-million-dollar custom estates, this exceptional property offers endless opportunities for investors, builders, and end-users alike. Move in, generate rental income, or build your dream custom luxury mansion in one of Richmond Hill's most sought-after neighbourhoods. The spacious home features multiple living areas including a family room, combined living/dining room, and a large great room addition with soaring cathedral ceilings. Several principal rooms have been converted into additional bedrooms, maximizing income potential and flexibility for large or multi-generational families. The eat-in kitchen includes upgraded stainless steel appliances, breakfast bar, pantry cupboards, and a main floor laundry room with separate side entrance. The finished basement with 3-piece washroom provides additional living space and versatility. Outside, enjoy a beautifully landscaped park-like backyard, terrace, and an extended driveway with parking for up to 7 vehicles. Ideally located minutes to Yonge Street, top-rated schools, parks, shopping, Lake Wilcox, Oak Ridges Community Centre, and transit. A rare opportunity to own a premium lot with outstanding future redevelopment and income potential.
Estimate your monthly payments for this property
Estimated Payment
$7,289.66/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Richmond Hill
Richmond Hill is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Richmond Hill
- •Convenient location in Richmond Hill
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Richmond Hill offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
8 Gallacher Avenue, Richmond Hill
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Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $824/sqft, this property is priced in line with current Richmond Hill market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Market Position
At 28 days on site, this property has had reasonable exposure. It hasn't sold immediately (which often indicates overpricing), but isn't languishing either. There's likely room for a 3-5% negotiation from asking price.
Detached Home Advantages
Detached homes in Richmond Hill are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Excellent Flexibility
With 6 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Richmond Hill.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Investment Perspective
Looking at this as an investment: Richmond Hill properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $6,867 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.