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New3 days ago

416 Elgin Mills Road W

Westbrook, Richmond Hill

$1,900,000

Detached|Bungaloft
5 | 5 | 10
About this home

Rare opportunity to own a custom-built bungaloft offering exceptional flexibility in one of Richmond Hill's most desirable locations. Originally built as the builder's own residence, this unique property was thoughtfully designed with spacious principal rooms, multiple entrances, wheelchair accessibility, and 9-foot ceilings on the main floor. Located within a Neighbourhood Mixed Use (NMU) designated area, this versatile property presents a variety of possibilities for homeowners, professionals, entrepreneurs, and multi-generational families seeking a unique live/work-inspired environment. The functional layout offers dedicated spaces that can be adapted for a home office, professional workspace, or additional living needs, while maintaining the comfort and privacy of a residential setting. The bright loft retreat provides additional flexibility, and the expansive driveway accommodates up to 8 vehicles. Situated on a generous 75 x 131 ft lot in a prime Richmond Hill neighbourhood, with convenient access to transit, schools, parks, shopping, and major commuter routes. A rare opportunity to reimagine, renovate, and unlock the potential of a truly distinctive property in a highly sought-after location. The property is designated within a Neighbourhood Mixed Use (NMU) area under the City of Richmond Hill's updated planning framework. This designation may provide opportunities for a broader range of uses compared to traditional residential zoning. Buyers and their representatives are advised to conduct their own due diligence and confirm permitted uses, requirements, and approvals directly with the City of Richmond Hill.

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agent
Angela Montano
(647) 283-2643
TypeDetached
StyleBungaloft
Approx. AgeNot available
Size3000-3500 sq. ft.
Property Tax$8,507
Lot Size75 ft x 131 ft
mls© NumberN13683830
Listed ByRE/MAX METROPOLIS REALTY

Listing History

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  • 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%
$9,725
Property tax
$709
Heat allowance
$150
Housing costs
$10,584 / mo

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

Down payment20% · $380,000
25-yr amortization

Income needed

$326,000

gross annual household income

Payment at 4%
$7,996 / mo
Cash down
$380,000

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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