15 Taramea Place, Addington, Christchurch

Nestled in the heart of Addington, Christchurch, 15 Taramea Place presents a prime investment opportunity on a Freehold title. This spacious 5-bedroom, 2-bathroom home, built in 1940 with Iron roofing and Wood exterior walls, boasts an average condition and a floor area of approximately 145sqm. The property sits on a level 630sqm section, complete with 2 car parks and a studio room that has been fully utilized. The government's capital value (CV) has seen a significant increase from $470,000 in 2019 to $660,000 as of 2022, reflecting a growth rate of 40.43%. The HouGarden AVM estimates the property's value at $640,000, while the latest sales were recorded at $142,000 in 2000 and $127,000 in 1997.

For families with children, the property falls within the catchment area of several esteemed schools, including Villa Maria College (Decile 9) and St Thomas of Canterbury College (Decile 8). Other nearby schools include Middleton Grange School and Hillmorton High School, among others, offering a range of educational options. This combination of location, size, and growth potential makes it a peach of an opportunity for investors seeking high rental yields and long-term capital gains.

With a baseline rent potential of $200-$250 per week and the prospect of redevelopment in a rapidly growing district, this property is set to become a must-have item in the coming months. The current owners have maintained the property to a very good standard over the past eight years, and with interest rates expected to decline, the timing couldn't be better to secure this little money-maker, just minutes from the CBD and local amenities.

Updated on August 30, 2024