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Listed 20 days ago

282-292 Elgin Mills Road W

Westbrook, Richmond Hill

$5,600,000

Detached|Bungalow
5 | 4 | 7
About this home

Rare opportunity to acquire a fully approved 15-unit townhouse development in the highly desirable Yonge & Elgin Mills corridor in Richmond Hill. This project features Zoning By-law Amendment (ZBA) and Site Plan Approval (SPA) in place, significantly reducing entitlement risk and saving 3 to 4 years of planning timeline for the buyer. The development consists of 15 large-format 3-storey POTL townhomes (9 three-bedroom and 6 four-bedroom units) with attached garages, private outdoor spaces, and roof terraces. Total buildable area is approximately 41,335 sq ft. Located in a premium infill location with strong end-user demand, the site benefits from proximity to Yonge Street transit, top-rated schools, parks, and major amenities. Existing properties on site generate rental income during holding period. Ideal for mid-sized builders, developers, or investors seeking a shovel-ready project in a supply-constrained market.

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Milad Momtaz Azad
Milad Momtaz Azad
(647) 510-8858
Julian Kashani
Julian Kashani
(416) 837-7775
TypeDetached
StyleBungalow
Approx. AgeNot available
Size5000 + sq. ft.
Property Tax$15,234
Lot Size183.67 ft x 186.07 ft
mls© NumberN13572676
Listed ByKW Living Realty

Listing History

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

Schools

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What the bank counts

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

Mortgage, tested at 6%
$28,663
Property tax
$1,270
Heat allowance
$150
Housing costs
$30,083 / mo

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

Down payment20% · $1,120,000
25-yr amortization

Income needed

$926,000

gross annual household income

Payment at 4%
$23,566 / mo
Cash down
$1,120,000

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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