75 Spruce Ave

LocationSouth Richvale, Richmond Hill, L4C 6V9
$1.848M For Sale
Property Images
Property Images
Property Images
Property Images
Property Images
Property Images

Description

Opportunity knocks in one of Richmond Hill's most desirable and highly sought-after neighborhoods, SOUTH RICHVALE. Situated on a premium 10,882 sq. ft. (1/4 acre) south-facing lot, this property offers exceptional potential for investors, builders, and end-users alike. The existing home requires some TLC, but presents a solid opportunity to rent out and generate income in the short term while planning for future redevelopment. Whether you're looking to hold for 1-2years as the market evolves for secure a prime piece of land in a prestigious area, this property checks all the boxes. Surrounded by luxury homes and ongoing redevelopment, this is a rare chance to buy at today's pricing and position yourself ahead of the next market upswing. The lot size, location, and orientation provide an ideal canvas for a custom build when the timing is right. Motivated seller-bring your vision and take advantage of this strategic investment opportunity.

Features

  • House Facing
    Facing: South
  • Bedrooms
    Bedrooms: 3
  • Bathrooms
    Bathrooms: 3
  • Garages
    Garages: 2
  • Kitchens
    Kitchens: 1

Details

  • Front Lot
    Lot size: 45.02 x 241.94 Feet
  • Lot Depth
    Space: 2000-2500
  • Tax Amount
    Tax: $ 10289.00
  • MLS
    N13042658
  • Listing contracted with: RE/MAX HALLMARK YORK GROUP REALTY LTD.
Bathroom Pieces Level
1xBath2 pcs

Main

1xBath4 pcs

Second

1xBath4 pcs

Second



Property Summary

Located close to the intersection of Carrville & Avenue Rd, 75 Spruce Ave is a 3+1 bedrooms 3 washrooms Detached. The unit has a Double Built-In Parking Spaces. The property basement is Partially Fi . The property has many nice features including In-Law Capability. .


School Information



Commute Information

GTA Go Train Langstaff Go Train Station (1.8km)

Location





Community Overview

75 Spruce Ave is at North East Corner of South Richvale Community. The community of South Richvale runs from Yonge St on the East to Highway 7 in the south, Bathurst St on the west, and Carrville Rd in the north. The community was one of Toronto's first commuter suburbs. The development coincided with the opening of the Richvale School in 1923. The significant real estate development started in the 1950s, and many residential houses were built around the 1970s. Homeowners occupy roughly 85% of the properties in South Richvale, and renters occupy 15%. In past 3 months, 12 Detached homes were sold at average of $2.17M. It has a higher than average population of recent immigrants from Iran, Italy and China. In 75 Spruce Ave neighbourhood, you will find many residents are Italian, Greek, Chinese, Iranian, and Canadian. Driving is the primary way of commuting for residents in South Richvale. Hunter's Point Wildlife Park is a quiet, contemplative green space located in the southwest section of Richvale, providing habitats for many exotic birds and animals. Many top-notch retailers include Indigo, Marshalls+Homesense, Swarovski, Carbon and Old Navy. South Richvale is now one of the most desirable Richmond Hill communities for Chinese families. Many marketers promote the community as South Rich Valley, highlighting it as a wealthy neighbourhood and its name, after translating to Chinese Cantonese, as a famous Hong Kong landmark, 'Lan Kwai Fong'.


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