$699,990 - 23 Observatory Lane Unit 222, Richmond Hill
Condo for Sale in Richmond Hill
New — Listed 5 days agoNeighbourhood: Observatory
- MLS Number
- N13516010
- Property Type
- Condo
- Status
- active
- Days on Site
- 5
- Bedrooms
- 2
- Bathrooms
- 4
- Square Feet
- 1,200 sqft
- Neighbourhood
- Richmond Hill
- Locker
- Ensuite+Owned
- Exposure
- South
- Balcony
- Open
- Listing Brokerage
- RE/MAX HALLMARK REALTY LTD.
Stunning Newly Upgraded 2-Bedroom, 4-Bathroom Condo Townhome Located in the Heart of Richmond Hill! **This South-Facing Home Is Filledwith Natural Light *Bright Open-Concept Layout with 9-Ft Ceilings on the Main Floor *Freshly Painted in Designer Neutral color *New Engineered Hardwood Flooring on the Main Level, Hardwood Staircase, and Laminate Flooring on the Second Floor-Carpet Free Throughout.*The Spacious family room Features a Cozy Gas Fireplace and Double Sliding Doors Leading to a Large Private Deck, Perfect forMorning Coffee or Relaxing Outdoors *Main Floor Office Ideal for Working from Home, Plus a Convenient 3-Piece Bathroom *The RenovatedKitchen Boasts Upgraded Cabinetry, Granite Countertops, Stylish Backsplash, and Quality Finishes. Upstairs Features Two Generous-SizedBedrooms, Each with Its Own Beautifully Upgraded Ensuite Bathroom *The Finished Basement Includes an Additional 3-Piece Bathroom.*Unbeatable Walk-to-Everything: Just Steps toYonge Street, Hillcrest Mall, Community Centre, Library, Parks, Trails, Playground,Splash Pad,Restaurants, T&T Supermarket, and Public Transit. Minutes to the GO Station, Highways 407 &404,and Hospital *Ideal for First-TimeBuyers, Down sizers, or Investors. The Ground-Level Room with Its Own 3-Piece Bathroom Offers Excellent In-Law or Income Potential *LocatedWithin Top-Rated school Districts. Don't Miss This Opportunity to Own a Beautifully Upgraded Home in One of Richmond Hill's Most ConvenientLocations!
Estimate your monthly payments for this property
Estimated Payment
$3,591.31/mo
Includes CMHC insurance ($19,530)
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 Observatory
Observatory 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 Observatory
- •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
Observatory 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.
23 Observatory Lane Unit 222, Richmond Hill
Open in Google MapsUse the map controls to zoom, pan, and switch between map and satellite views. Drag to explore the neighbourhood.
Rental income estimator & ROI calculator
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
Competitive Pricing
At $583/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
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.
Condo Considerations
For condos, I always review the status certificate thoroughly. Key things I look for: reserve fund health (should be well-funded), any upcoming special assessments, rules that might affect your lifestyle (pets, rentals, renovations), and the corporation's financial statements. We'll want to verify the monthly fees and what they include.
Bathroom Count Matters
With 4 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.
About Observatory
I know Observatory well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Investment Perspective
Looking at this as an investment: Richmond Hill properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $2,917 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.