Nestled in the serene Upper Riccarton, 64 Acacia Avenue presents a charming freehold property on a level contour. Constructed in 1953 with brick walls and tiled roof, this well-maintained home boasts 5 bedrooms, 2 bathrooms, and a floor area of 162sqm on a generous 746sqm section, complete with 2 car parks. The current Capital Value of $760,000 reflects a significant increase of 20.6% from the 2019 CV of $630,000. The property's HouGarden AVM stands at $765,000, with the latest sale recorded at $640,000 in 2021 and $577,000 in 2013.
For investors, the property's location within a high-demand student rental area, close to the University of Canterbury and shopping amenities like Westfield Riccarton, is a major plus. It currently generates $850 per week on a fixed-term tenancy until December 2024, with a new rental appraisal indicating potential returns of $850-$900/week. The property meets Healthy Home Standards, ensuring tenant comfort and steady rental income.
Educationally, the property falls within the zones of several esteemed schools, including Villa Maria College (decile 9), Kirkwood Intermediate (decile 7), and St Thomas of Canterbury College (decile 8), among others. This combination of location, value growth, and educational opportunities makes it a prime investment opportunity not to be missed.
Updated on September 12, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.09 km | 2 | 1 | 90m2 | Year 2024 Month 12 Day 24 | $475,500 | Council approved | |
 | 0.09 km | 3 | 1 | 120m2 | Year 2024 Month 12 Day 02 | $545,000 | Council approved | |
 | 0.26 km | 3 | 1 | -m2 | Year 2024 Month 08 Day 29 | - | Council approved | |
 | 0.08 km | 3 | 135m2 | Year 2024 Month 07 Day 25 | $860,000 | Council approved | ||
 | 0.35 km | 3 | 190m2 | Year 2024 Month 07 Day 24 | $735,000 | Council approved |