196 Elgin Mills Road, Richmond Hill, ON
Property Highlights
Welcome to this remarkable land located in the coveted neighborhood of Westbrook. Offering a sublime balance of structural integrity and modern aesthetic appeal, this residence presents an exceptional opportunity offered at $4,250,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 0 Bedrooms and 0 Bathrooms
- Premium 122.9 x 335.22 ft lot size
Description
This property is under Power of sale. 0.95 acre of land together with an existing detached residence of approximately 3,000 sq.ft. with a double-car garage - 41 Cooperage Cres (61.51 x164.49), providing potential rental income or interim use while pursuing future development plans. Previous development concepts contemplated approximately 14 townhouse units and 2 detached dwellings (buyer to conduct their own due diligence and verify all development potential with the municipality). An exceptional opportunity for developers, investors, land bankers and builders. Generate holding income from the existing residence while advancing planning applications, site plan approvals, redevelopment proposals, or potential future land assembly opportunities. Properties of this size and location rarely become available, and even more rarely under Power of Sale. Whether your strategy is redevelopment, investment, land banking, or assembly, this property offers significant upside potential in a highly desirable Richmond Hill location. Sold on an "As Is, Where Is" basis. Buyer to conduct their own due diligence regarding zoning, planning, development potential, permitted uses, and all other matters. However, Historical planning, engineering, and development-related materials may be available for review.
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This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 196 Elgin Mills Road W, Richmond Hill, ON L4C 4M2
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in Richmond Hill, ON
For a property listed at $4,250,000 in Richmond Hill, the legal minimum down payment is $850,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $92,725 for this transaction. As this listing is in Richmond Hill (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $92,725.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.