$639,000 - 8888 YONGE Street Unit 706, Richmond Hill
Condo for Sale in Richmond Hill
49 days on market- MLS Number
- N13067986
- Property Type
- Condo
- Status
- active
- Days on Site
- 49
- Bedrooms
- 3
- Bathrooms
- 2
- Square Feet
- 600 sqft
- Neighbourhood
- Richmond Hill
- Locker
- None
- Exposure
- South
- Balcony
- Terrace
- Listing Brokerage
- CENTURY 21 HERITAGE GROUP LTD.
Welcome to Unit 706 at 8888 Yonge Street Condos - Your Gateway to Modern Living in Richmond Hill! Discover the perfect blend of elegance and practicality in this brand new 2-bedroom suite plus a den, beautifully laid out across 697 square feet. Step out onto your private balcony with a size of 105 SQ.FT for a breath of fresh air and expansive views, maximizing natural light for a warm and inviting atmosphere. This residence, part of a striking 15-storey architectural masterpiece, ensures effortless connectivity with nearby Highway 407, Highway 7, Langstaff GO, VIVA transit, and the upcoming TTC Yonge North Subway Extension. Enjoy unparalleled convenience just moments away from vibrant shopping, dining, and entertainment venues. For your storage and parking needs, purchase options are available: parking at $50,000 and lockers at $5,000. Plus, you can take advantage of a Vendor Take-Back (VTB) mortgage at an attractive rate, easing the path to ownership. As a first-time homebuyer, explore potential savings through the GST/HST New Housing Rebate and the First-Time Home Buyer HST Rebate.
Estimate your monthly payments for this property
Estimated Payment
$3,278.40/mo
Includes CMHC insurance ($17,828)
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.
8888 YONGE Street Unit 706, 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 $1065/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.
Negotiation Opportunity
At 49 days on site, this property has exceeded the typical selling timeline for Richmond Hill. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Efficient Living
At 600 sqft, this is a more compact space. The upside: lower utility bills, less maintenance, and easier cleaning. Consider how you'll use the space - built-in storage, multi-functional furniture, and good organization become important. Great for singles, couples, or those who prefer a low-maintenance lifestyle.
Starter Home Potential
3 bedrooms works well for couples planning families or small families with one child. Consider whether you might outgrow the space in 5-7 years. If so, factor in potential moving costs when making your decision. Alternatively, some buyers convert a bedroom to an office and make it work long-term.
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 $2,663 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.