Nestled at 54 Norton Road, Frankton, Hamilton, this residential property is a purpose-built rental flat complex, consisting of four one-bedroom units on a freehold title. Constructed in 1970 with concrete walls and an iron roof, both in average condition, it sits on a level contour with a floor area of 170sqm and a land area of 809sqm. The property boasts a single carpark and is ideally located at the CBD end of Norton Road, offering convenient access to transport and leisure facilities such as the FMG Stadium and Seddon Park.
As for financials, the capital value has seen a significant increase from $720,000 in September 2018 to $1,200,000 in September 2021, a growth rate of 66.67%. The HouGarden AVM estimates the property's value at $1,117,500. Notably, the latest sale history includes transactions in 1996 for $187,500 and in 1994 for $150,000, highlighting the investment potential.
For families, the property falls within the school zones of Fraser High School (Secondary, Decile 4), Maeroa Intermediate (Intermediate, Decile 3), and Whitiora School (Full Primary, Decile 3), ensuring quality education options. This multi-unit investment opportunity close to the CBD is perfect for those seeking strong returns and value addition potential.
Updated on June 24, 2024
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.21 km | 3 | 2 | -m2 | Year 2024 Month 09 Day 06 | $920,000 | Council approved | |
 | 0.15 km | 2 | 1 | 60m2 | Year 2024 Month 07 Day 29 | $458,000 | Council approved | |
 | 0.13 km | 2 | 1 | 60m2 | Year 2024 Month 07 Day 15 | $458,000 | Council approved | |
 | 0.27 km | 4 | 140m2 | Year 2024 Month 07 Day 05 | $682,000 | Council approved | ||
 | 0.48 km | 3 | 106m2 | Year 2024 Month 07 Day 04 | $575,500 | Council approved |