

282-292 Elgin Mills Road W
Westbrook, Richmond Hill
$5,600,000
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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| Type | Detached |
| Style | Bungalow |
| Approx. Age | Not available |
| Size | 5000 + sq. ft. |
| Property Tax | $15,234 |
| Lot Size | 183.67 ft x 186.07 ft |
| mls© Number | N13572676 |
| Listed By | KW Living Realty |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
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Could you afford this home?
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.
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 checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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