401 8120 COLONIAL DRIVE
Richmond, BC V7C4V2
$399,900
Amenities
Also listed: Laundry - In Suite
Property Details
Property & Lot
- Sub-type
- Apartment
Ownership & Fees
- Property type
- Condo / Apartment
- Ownership
- Strata
- Strata / maintenance fee
- $427/mo
- Annual property tax
- $1,582.81 (2025)
Interior
- Heating
- Baseboard heaters
- Fireplace
- None
Exterior & Lot
- View
- View
- Pool
- Outdoor pool
Parking
- Total spaces
- 1 — uncovered indicated
- Features
- Underground
Restrictions & Policies
- Pets
- Allowed with restrictions
As reported by the listing board — always confirm current bylaws with the strata or landlord before relying on this.
Listing Information
- MLS®
- R3152323
- Listed
- August 4, 2026
- Time on market
- On the market for 27 days
- Tax assessment year
- 2025
- Data last synced
- August 28, 2026
Listing provided by: RE/MAX City Realty · Data source: CREA DDF.
Description
Welcome to Cherry Tree Place! This beautifully renovated top-floor corner penthouse offers an abundance of natural light with its desirable east-facing exposure. The sellers have invested over $50,000 in quality renovations, move-in-ready home. This bright and quiet 2-bedroom, 1-bath residence features a functional open layout, in-suite laundry, and an extra-large balcony. Residents can enjoy the outdoor swimming pool and the convenience of being just one block from an elementary school, with parks, shopping, restaurants, transit, and everyday amenities all within easy reach. A rare opportunity to own a beautifully updated penthouse in a prime central location! **OPEN HOUSE | AUG 15th & 16th | 2 TO 4 PM (id:63159)
Values & Trends
This listing
$586/sqft
Building average
$688/sqft
1 active listing(s)
Richmond average
$802/sqft
869 active listing(s)
Per-stall/locker dollar values aren't itemized in our data source — shown as included/not indicated only, not a fabricated estimate. $/sqft averages are computed live from other active listings, not a third-party model.
Apartment Market Stats — Richmond
Monthly figures from the Fraser Valley Real Estate Board for Richmond apartmentlistings — not specific to this property.
MLS® HPI Benchmark Price
$639,700
Jul 2026
Average Sale Price
$604,327
Jul 2026
Monthly Sales
92
Jul 2026
Active Listings
956
Jul 2026
Sales-to-Active Ratio
10.0%
Jul 2026
Median Days to Contract
38 days
Jul 2026
MLS® HPI Benchmark Price
Source: Fraser Valley Real Estate Board (FVREB).
Location Insights
Weather
15°C
Clear
Humidity 100%
Wind NW 5 km/h
Tonight
14°
Tuesday
21°
Tuesday night
16°
Wednesday
19°
Wednesday night
14°
Thursday
17°
Source: Environment and Climate Change Canada.
Population
209,937
(2021 Census)
+5.9% since 2016
Density: 1,629.1/km²
Dwellings: 85,035
Median household income: $79,000
After-tax: $71,000
Immigrant population: 60.3%
Top countries of origin (% of total population)
- China22.1% · 46,490
- Hong Kong11.6% · 24,340
- Philippines6.5% · 13,570
- Taiwan3.7% · 7,745
- India2.6% · 5,380
- United Kingdom1.1% · 2,210
- United States of America0.8% · 1,600
- Viet Nam0.7% · 1,510
Source: Statistics Canada, 2021 Census of Population.
Location Accessibility
Our own metric — not an official Walk Score®.
Amenities
15
2/9 categories nearby
Transit
33
5 stop(s) within 800m
How this is calculated
Amenities: points awarded per category (restaurants, cafes, grocery, parks, shopping, gyms, pharmacies, banks/ATMs, healthcare) based on distance to the nearest one — 3 points under 200m, 2 points under 500m, 1 point under 800m — summed across all 9 categories and scaled to 0–100.
Transit: based on the number of transit stops within 800m and their mode (SkyTrain weighted highest, then streetcar/ferry, then bus). This reflects stop type and count only — our data doesn't include how often a route actually runs, so frequency is never factored in.
Both scores depend on how much of the surrounding area has been synced from OpenStreetMap and TransLink's GTFS feed. A lower score can mean fewer amenities nearby, or simply that this area hasn't been fully synced yet — not a confident measurement of the location itself.
Nearby Schools
| School | Type | Distance |
|---|---|---|
| R M Grauer Elementary | Elementary | 335 m |
| des Navigateurs | Elementary | 579 m |
| Donald E McKay Elementary | Elementary | 794 m |
| James Gilmore Elementary | Elementary | 1.2 km |
| J.N. Burnett Secondary | Secondary | 1.2 km |
| Hugh Boyd Secondary | Elementary | 1.2 km |
| Quilchena Elementary | Elementary | 1.2 km |
| Jessie Wowk Elementary | Elementary | 1.3 km |
Schools shown by distance from this property. This does not indicate school catchment or enrollment eligibility — contact the school district to confirm catchment boundaries.
Nearby Transit
| Stop | Type | Distance |
|---|---|---|
| Northbound Railway Ave @ Colbeck Rd | — | 107 m |
| Southbound Railway Ave @ Colbeck Rd | — | 164 m |
| Southbound Railway Ave @ Blundell Rd | — | 198 m |
| Northbound Railway Ave @ Blundell Rd | — | 279 m |
| Southbound Railway Ave @ Lancing Rd | — | 366 m |
Nearby Places
Restaurants (1)
- Sushi Lovers266 m
Parks (3)
- Grauer Neighbourhood School Park · 4440 Blundell Road289 m
- Kilgour Neighbourhood School Park536 m
- Railway Greenway621 m
Nearby places data: © OpenStreetMap contributors.
School district: Richmond (SD38)
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Mortgage & Ownership Cost Calculator
Minimum required: 5.0% ($19,995) — 5% under $500K, 10% up to $1.5M, 20% at/above $1.5M.
Financial Ledger
Rates based on Bank of Canada benchmark data.
Financial Summary
Cash Needed at Closing
Minimum down payment: 5% on the first $500,000, 10% on the portion up to $1.5M, 20% at/above $1.5M. Stress test: OSFI's minimum qualifying rate, the greater of contract rate + 2% or 5.25% — this is what lenders require you to qualify at, not what you'll actually pay. Closing costs are a typical-range estimate, not a quote — actual legal fees vary. Verify all figures with a mortgage broker and lawyer before relying on them.