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Listed 3 months ago

8 Gallacher Avenue

Oak Ridges, Richmond Hill

$1,648,000

Detached|2-Storey
4 | 3 | 8
About this home

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. 1 year Canadian Home Shield SafeCloseTM Home Systems & Appliance Warranty Coverage.

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Milad Momtaz Azad
Milad Momtaz Azad
(647) 510-8858
Julian Kashani
Julian Kashani
(416) 837-7775
TypeDetached
Style2-Storey
Approx. Age51-99
Size2000-2500 sq. ft.
Property Tax$7,694
Lot Size75 ft x 200 ft
mls© NumberN13159072
Listed ByRE/MAX REALTRON REALTY INC.

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Schools

Could you afford this home?

What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$8,435
Property tax
$641
Heat allowance
$150
Housing costs
$9,226 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $329,600
25-yr amortization

Income needed

$284,000

gross annual household income

Payment at 4%
$6,935 / mo
Cash down
$329,600

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

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