$4,599,000 - 116 OAK Avenue, Richmond Hill
Detached for Sale in Richmond Hill
New — Listed 3 days agoNeighbourhood: South Richvale
- MLS Number
- N13565842
- Property Type
- Detached
- Status
- active
- Days on Site
- 3
- Bedrooms
- 6
- Bathrooms
- 9
- Square Feet
- 5,000+ sqft
- Neighbourhood
- Richmond Hill
- Listing Brokerage
- RE/MAX REALTRON REALTY INC.
Sleek & stunning contemporary masterpiece in prestigious South Richvale offering over 11,170 sq.ft. of luxurious living space, including approximately 6,400 sq.ft. above grade plus a spectacular 3,770 sq.ft. lower level. Designed with uncompromising attention to detail, this exceptional residence features 5+1 bedrooms, 9 designer washrooms, 12-ft ceilings on the main floor, 10-ft ceilings on the upper level, and 9.5-ft ceilings below grade. A grand arrival begins with the heated driveway and heated walkways, setting the tone for the extraordinary luxury found throughout. A breathtaking 27-ft sun-filled central atrium with soaring ceilings and multiple skylights creates an unforgettable first impression, while the custom open-rise Art Deco-inspired hardwood staircase with intricate railings serves as the home's architectural centrepiece. Heated tiled floors, zen-inspired clean lines, and expansive open-concept living spaces blend warmth with sophisticated contemporary design. The chef-inspired kitchen showcases premium Miele appliances, a fully equipped prep kitchen, premium cabinetry, and a dramatic stone waterfall centre island. The lavish primary retreat features a private balcony, His & Hers walk-through closets, and a spa-inspired 7-piece ensuite complete with a steam shower and heated floors. Designed for exceptional entertaining and wellness, the sprawling lower level offers a home theatre, wine cellar, recreation room, games room, wet bar, nanny suite, and a private gym with sauna and 3-piece bath. Additional luxury features include a 4-level elevator, Control4 home automation, Sonos surround sound throughout, and automated window coverings. The spectacular resort-style backyard is an entertainer's dream, highlighted by an oversized covered veranda, outdoor BBQ kitchen, pergola, spa jacuzzi, and a magnificent 20 x 40 ft. saltwater inground pool, creating the ultimate private oasis for relaxing and entertaining in style.
Estimate your monthly payments for this property
Estimated Payment
$20,342.93/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover South Richvale
South Richvale is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in South Richvale
- •Convenient location in Richmond Hill
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
South Richvale offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
116 OAK Avenue, Richmond Hill
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $920/sqft, this property is priced in line with current Richmond Hill market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Just Listed - Act Strategically
This property hit the market within the last week. In Richmond Hill's current market, desirable homes often receive multiple offers within 5-7 days. If you're seriously interested, I recommend booking a showing immediately. However, never let urgency override due diligence - we'll still do proper inspections.
Detached Home Advantages
Detached homes in Richmond Hill are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Larger Home Realities
At 5,000 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Excellent Flexibility
With 6 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Richmond Hill.
Bathroom Count Matters
With 9 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.