322 - 8120 Colonial Drive, Richmond, V7C 4V2 — photo 1

$360,000

322 - 8120 Colonial Drive, Richmond, V7C 4V2
Active
1 Bedrooms 1 Bathrooms 523 sqft Built 1977 Residential

About This Property

Welcome to Cherry Tree Place! This affordable 1-bedroom condo offers 523 sq ft of comfortable living in a quiet, family-friendly community in Richmond’s Boyd Park. Featuring laminate flooring, and in-suite laundry, this upper-level unit is bright and well-kept with a functional layout and peaceful views of surrounding greenery. Enjoy access to outdoor pool, playground, and nearby walking trails. Rentals allowed, low strata fees, and 1 parking. Just steps to transit, schools, shopping, and the Grauer Neighborhood School Park nearby. Perfect for first-time buyers or investors!

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Property Details

MLS #

R3035978

Status

Active

Type

Residential

Sub-type

Apartment/Condo

Ownership

Freehold Strata

Zoning

APT

Bedrooms

1

Full Baths

1

Half Baths

0

Kitchens

1

Living Area

523 sqft

Main Floor

523 sqft

Stories

4

Year Built

1977

Age

48 years

Roof

Asphalt

Construction

Frame Wood, Wood Siding

Structure

Multi Family, Residential Attached

Parking Stalls

1

Parking Type

Open, Guest, Front Access

Original Price

$388,500

Strata Fee

$297.43/mo

Taxes

$1,120.8/yr

Listed

2025-08-11

MLS Area

Boyd Park

City

Richmond

Postal Code

V7C 4V2

Subdivision

Cherry Tree Place

Features & Finishes

Heating

Baseboard · Electric

Flooring

Laminate

Appliances

Washer/Dryer · Refrigerator · Stove

Laundry

In Unit

Interior Features

Elevator

Exterior Features

Garden · Balcony

Building & Community

Total Units

198

Pets

Cats OK, Dogs OK, Yes With Restrictions

Restrictions

Pets Allowed w/Rest.,Rentals Allwd w/Restrctns

Strata Mgmt Co.

DORSET REALTY GROUP

Strata Mgmt Phone

604-270-1711

Water Source

Public

Sewer

Public Sewer, Sanitary Sewer, Storm Sewer

Utilities

Electricity Connected, Natural Gas Connected, Water Connected

Pool

Outdoor Pool

Building Amenities

Recreation Facilities · Caretaker · Trash · Maintenance Grounds · Management

Disclosures

Property Disclosure

No

Coordinates: 49.153531, -123.170696 · Map data © Google

8.9

Hot Deal

Deal Score out of 10

Strong value relative to the market with clear seller motivation signals.

Value vs market12% below market $/sqft
Days on market266 days — significantly stale, strong negotiation position
Price historyPrice dropped 7% from original ask — seller showing motivation
Market conditionsBuyer's market — avg 95% of ask
Draft CPS Offer

Offer Advisor

High confidence

Suggested Offer

$334,300

7.1% below asking price

Negotiation Range

$325,300$339,700

$14,400 spread

$325,300$360,000 ask

Based on 13 recent sales, a starting offer around $334,300 (7.1% below ask) is reasonable. Your negotiation range is $325,300 – $339,700.

What's factored in

Market baseline13 recent Richmond sales closed at median 95.2% of list price
Price already reducedSeller dropped from 7% off original ask — indicates motivation
Extended market time266 days listed — well above market avg of 158 days, increased negotiation leverage
Above-average DOM266d vs market avg of 158d — property may have a pricing or condition issue

Based on 13 residential sales in Richmond (last 60 days) · Updated May 4

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