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178 MILL STREET, Richmond Hill (Mill Pond)
2025-10-02
Quick Summary
- Location
- 178 MILL STREET, Richmond Hill (Mill Pond), Ontario L4C4B2
- Price
- $2,800,000
- Status:
- For Sale
- Property Type:
- Business
- Area:
- 4100 sqft
MLS®#N12439173
Property Description
Exceptional 21,700 sq ft R2-zoned development site in prime Richmond Hill offering immediate rental income through flexible seller lease-back arrangement for up to 24 months. This rare investment opportunity combines instant cash flow with transformative development potential on one of the area's largest residential lots. With ~69 feet of frontage and approximately 320 feet depth, the property offers sophisticated investors multiple development pathways that have been professionally evaluated by WND Planners. The conceptual plans demonstrate two compelling options: three luxury single-detached homes ranging from 4,735 to 8,020 sq ft totaling 17,490 sq ft of premium living space, or six semi-detached units averaging 2,370 sq ft each for 14,200 sq ft total, appealing to a broader buyer demographic. The oversized lot exceeds R2 minimum requirements by 4x, with each potential lot surpassing the 5,000 sq ft minimum and 50 ft frontage requirement, providing exceptional flexibility for lot severance and entitlement enhancement strategies. The seller's lease-back eliminates traditional vacant land carrying costs, generating returns from day one while you navigate municipal approvals, market pre-construction units, or simply land bank in this appreciating neighborhood. With 30% lot coverage allowance, 11-meter height permissions allowing 3 storeys, and full municipal services already available, the property is primed for development. Located in an established Richmond Hill neighborhood with mature infrastructure, walking distance to schools, parks, shopping, and easy highway access to the Greater Toronto Area, this property positions investors at the forefront of the region's densification initiatives. The combination of immediate income, development flexibility, and strategic location makes this one of Richmond Hill's most compelling investment opportunities. Contact for private viewing. (id:32467)
Property Features
Building
- Cooling Type: Fully air conditioned
- Fireplace: No
- Interior Size: 4100 sqft
- Utility Water: Municipal water
Land
- Land Size: 68.37 x 320 FT
Zoning
- Description: Residential
Information entered by RIGHT AT HOME REALTY
Listing information last updated on: 2025-10-16 02:20:41
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How much could you save in commission selling with One Percent Realty?
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$500,000
Your One Percent Realty Commission savings†
$500,000
†
Savings calculated using One Percent Realty's posted commission rates compared to another agent charging
5% + HST . Not all agents charge the same.
One Percent Realty's top FAQs
We charge a total of $7,950 for residential properties under $400,000. For residential properties $400,000-$900,000 we charge $9,950. For residential properties over $900,000 we charge 1% of the sale price plus $950. Plus Applicable taxes, of course. We also offer the flexibility to offer more commission to the buyer's agent, if you want to. It is as simple as that! For commercial properties, farms, or development properties please contact a One Percent agent directly or fill out the market evaluation form on the bottom right of our website pages and a One Percent agent will get back to you to discuss the particulars.
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