175 Major Mackenzie Dr E
Harding, Richmond Hill, L4C 1H4
FOR SALE
$2,100,000
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BEDROOMS3
BATHROOMS1 + 1
KITCHENS8 + 3
ROOMSN8107778
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Property Description
Exciting real estate opportunity on Major Mackenzie Dr. E in Richmond Hill, On.The property, strategically situated on a major arterial road within the local mixed-use zone, aligns seamlessly with the official plan. Currently zoned RM3, there exists a compelling prospect to enhance the Floor Space Index (FSI). Moreover, the potential to convert the zoning to commercial presents a lucrative avenue to capitalize on the substantial growth unfolding in the area.One key advantage is the property's current lease at market price, providing a income stream for the purchaser. This financial cushion facilitates a seamless initiation of the rezoning process and the creation of a draft plan, ensuring a prudent and financially viable strategy. The existing three-storey zoning can be strategically amended to institutional use, unlocking a myriad of diverse possibilities for the property. Don't miss the chance to be part of the growth narrative and secure a prime investment in this thriving location.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2023-05-09 | 2023-09-08 | 123 | $1,900,000 | - | Expired |
| 2022-08-02 | 2022-08-12 | 10 | $1,900,000 | - | Terminated |
| 2022-06-13 | 2022-08-02 | 50 | $2,499,000 | - | Terminated |
| 2022-06-13 | 2022-06-27 | 14 | $3,200 | - | Terminated |
| 2022-06-13 | 2022-06-13 | 0 | $4,000 | - | Terminated |
| 2022-06-13 | 2022-06-13 | 0 | $3,200 | - | Terminated |
| 2022-03-29 | 2022-05-31 | 63 | $2,499,000 | - | Expired |
| 2021-12-21 | 2022-03-22 | 91 | $2,999,888 | - | Expired |
Extras
Investors can leverage the property's income stability, paired with the potential for increased FSI and a shift to commercial zoning, to tap into the burgeoning market and position themselves for optimal returns.
Nearby Intersections
Property Features
Hospital, Library, Public Transit, Rec Centre, School
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Property Details
Street
Community
City
Property Type
Detached, 1 1/2 Storey
Approximate Sq.Ft.
1100-1500
Lot Size
60' x 140'
Acreage
< .50
Fronting
South
Taxes
$4,909 (2024)
Basement
Apartment, Sep Entrance
Exterior
Alum Siding, Brick
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
8
Driveway
Pvt Double
Garage Type
Detached
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Richmond Hill Market Statistics
Richmond Hill Price Trend
175 Major Mackenzie Dr E is a 3-bedroom 3-bathroom home listed for sale at $2,100,000, which is $720,896 (52.3%) higher than the average sold price of $1,379,104 in the last 30 days (March 27 - April 25). During the last 30 days the average sold price for a 3 bedroom home in Richmond Hill increased by $33,198 (2.5%) compared to the previous 30 day period (February 26 - March 26) and down $18,749 (1.3%) from the same time one year ago.Inventory Change
There were 91 3-bedroom homes listed in Richmond Hill over the last 30 days (March 27 - April 25), which is up 13.8% compared with the previous 30 day period (February 26 - March 26) and up 65.5% compared with the same period last year.Sold Price Above/Below Asking ($)
3-bedroom homes in Richmond Hill typically sold $81,337 (5.9%) above asking price over the last 30 days (March 27 - April 25), which represents a $32,391 increase compared to the previous 30 day period (February 26 - March 26) and $65,611 more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in Richmond Hill over the last 30 days (March 27 - April 25) stood at 47.3%, down from 55.0% over the previous 30 days (February 26 - March 26) and down from 58.2% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 3-bathroom home in Richmond Hill stood at 10 days when successfully sold over the last 30 days (March 27 - April 25), compared to 49 days before being removed from the market upon being suspended or terminated.Listing contracted with Coldwell Banker The Real Estate Centre
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