Nestled in the serene cul-de-sac of 112j Lake Road, Frankton, Hamilton, this residential dwelling is a gem for investors. The 3-bedroom, 2-bathroom home with 2 car parks and a floor area of 170sqm is set on a steep rise, boasting a picturesque view of the lake. Constructed in 1996 with roughcast walls and an iron roof, both in good condition, this cross-lease property has seen a significant Capital Value (CV) increase of 53.57% from $560,000 in 2018 to $860,000 in 2021. The latest HouGarden AVM estimates the property at $825,000, while the latest sale was recorded in 2013 at $399,000. For families, the property falls within the zones of highly sought-after Hamilton Boys' High School (HBHS) and Hamilton Girls' High School (HGHS), with deciles of 7 and 6 respectively. The kitchen features modern engineered stone bench space, and the oversized deck is perfect for relaxation or entertainment. Additional features include a heat pump, ventilation system, and ample storage. This property is not just a home but a smart investment opportunity in a prime location.
With a CV growth rate that outpaces the market average, this property presents a compelling case for investors looking for a decent return, with rental appraisals at $770 to $750 per week. The home has been recently repainted and is flanked by excellent real estate, enhancing its appeal. The proximity to the hospital and CBD ensures a steady stream of prospective tenants. The lake views from the feature window and the easy access to popular Lake walkways and cafes add to the allure of this property. It's a perfect lock-up and leave option, designed for busy professionals and families alike.
Education is a key highlight, with the property being in the zone for both HBHS and HGHS, as well as Whitiora School and Hamilton West School, with deciles of 3 and 5 respectively. This peaceful environment, combined with the property’s modern amenities and convenient location, makes it an ideal choice for those seeking a balanced lifestyle.
Updated on April 17, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.37 km | 18 | 10 | 550m2 | Year 2024 Month 10 Day 11 | $2,310,000 | Council approved | |
 | 0.40 km | 2 | 1 | 69m2 | Year 2024 Month 10 Day 03 | $643,000 | Council approved | |
 | 0.19 km | 4 | 3 | 268m2 | Year 2024 Month 08 Day 07 | $1,560,000 | Council approved | |
 | 0.15 km | 4 | 3 | 250m2 | Year 2024 Month 08 Day 06 | - | Council approved | |
 | 0.28 km | 4 | 120m2 | Year 2024 Month 08 Day 01 | $690,000 | Council approved |