House on Chilliwack’s most valuable property was built by Chinese VIP gambler – Chilliwack Progress

The most valuable property in Chilliwack according to BC Assessment might also be one of the most interesting.

The seven-acre property at 6500 Chadsey Rd. has a 16,543-square-foot home with seven bedrooms and nine bathroom and is valued at $4.31 million.

Along with the adjacent property on Chadsey, the 11-acre compound is surrounded by two layers of 15-foot-high cedar hedging in between which is a chain link fence, above which can be seen no fewer than 32 security cameras.

Some of the mystery about the property was revealed after a Global News report in 2018, which reported the French-style mansion was built by a Chinese gambling VIP allegedly connected to the RCMP’s probe of money laundering at Richmond’s River Rock Casino, itself tied to international drug trafficking.

According to Global’s sources, the house was built by 56-year-old Rongxiang “Tiger” Yuan, a man reportedly tied to the Chinese military who owns both a gun shop in the Lower Mainland and an extensive firearms collection.

Inside the 6,530-square-foot finished basement is a collection of vehicles, including numerous Rolls Royce cars, a firetruck, two military jeeps, and several weapons.

The next-door property included in the compound is the former site of the old Chadsey Elementary School, at 6450 Chadsey Rd., and is valued at $1.867 million.

The $4.31-million valuation represents a 34.6 per cent increase over the property’s 2021 assessment of $3.201 million.

That is not out of line with increases seen across Chilliwack, as BC Assessment reports the Class 1 residential roll went up 34.8 per cent year over year.

Number two on the top 10 most valuable properties in Chilliwack is a four-acre property with a six-bedroom, eight bathroom, 7,000-square foot house at 43216 South Sumas Rd. valued at $4 million.

And number three on the list is a 35-acre property with a large house at the top of Majuba Hill on Karson Road valued at $3.671 million.

Top 10 valued properties in Chilliwack for 2022 according to BC Assessment

1. 6500 Chadsey Rd. – $4,310,000

2. 43216 South Sumas Rd. – $4,009,000

3. 3190 Karson Rd. – $3,671,000

4. 42273 Keith Wilson Rd. – $3,584,000

5. 50200 Castleman Rd. – $3,535,000

6. 50140 Yale Rd. – $3,529,000

7. 50019 Camp River Rd. – $3,387,000

8. 6255 Chadsey Rd. – $3,262,000

9. 8050 Old Orchard Rd. – $3,246,000

10. 7179 Ramsay Pl, Chilliwack 3,231,000

Do you have something to add to this story, or something else we should report on? Email:

Like us on Facebook and follow us on Twitter.

Assessment BillchilliwackReal estate

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *