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Richmond Hill
$4,250,000
196 ELGIN MILLS ROAD W, Richmond Hill, L4C4M2
MLS Number: N13486498
Beds
0
Baths
0
Listing
For Sale
Type
Detached
Square Feet
1,100 - 1,500
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.
Estimate Tool
Estimate monthly principal and interest, then add common carrying costs for a clearer planning number.
Down Payment
$850,000
Mortgage Amount
$3,400,000
Principal + Interest
$19,659 / mo
5-Year Term Payments
$1,179,526
Estimated Monthly Carrying Cost
$20,309
Includes principal, interest, property tax, condo fees, and heating estimates.
This is a planning estimate only. It excludes mortgage insurance, lender qualification rules, legal fees, insurance, utilities beyond heating, and other closing or ownership costs.
Helpful Guide
If you are planning a purchase, it helps to understand the buyer process and keep your financing and closing documents organized.
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