1/22 London Street, Richmond, Christchurch

Nestled at 1/22 London Street in the coveted Richmond suburb of Christchurch, this 2-bedroom, 1-bathroom unit with a single carpark presents an enticing investment opportunity. Constructed in 1982 with concrete walls and an iron roof, both in good condition, the property sits on a level contour and is governed by a Cross-Lease ownership. The current government valuation of $345,000 reflects a significant increase of 64.29% since 2019, showcasing the rapid capital value growth. The latest sale history points to a $200,000 transaction in 2015, following $157,300 in 2004, underlining the property's consistent appreciation. HouGarden's AVM estimates the property's worth at $330,000, making it an attractive prospect for potential investors.

With a floor area of 80 square meters, this unit offers a modern open-plan living space, ideal for both relaxation and entertaining. The property's strategic location provides easy access to local amenities, public transport, and a selection of schools. The school network includes high-performing institutions such as Middleton Grange School (Decile 9) and Marian College (Decile 8), among others, making it an excellent choice for families.

Richmond's strong rental market and the unit's current tenancy, set to expire in March 2025 with a rental income of $505 per week, present a stable investment with the potential for high returns. Whether you're a seasoned investor or a first-time buyer, this property is not to be missed, offering both convenience and growth potential in a desirable Christchurch locale.

Updated on October 30, 2024