110a Lyttelton Street, Spreydon, Christchurch

Nestled on a private and level 460 sqm freehold section in the sought-after Cashmere High School zone, this 1-bedroom, 1-bathroom residence with a single carpark presents an inviting opportunity. Constructed in 2000 with mixed materials for the walls and iron for the roof, the property enjoys an average condition for both its walls and roof. The interior boasts a sunny lounge flowing onto a sheltered deck, a galley-style kitchen, and separate amenities including a bathroom, toilet, and laundry. The property's Capital Value (CV) has seen a remarkable increase from $310,000 in 2019 to $450,000 in 2022, reflecting a growth rate of 45.16%. The HouGarden AVM estimates the property's value at $432,500. Notably, the latest sale history includes transactions at $270,000 in 2020 and $245,000 in 2017. This home, situated in a quiet cul-de-sac, is perfect for investors seeking solid rental returns or for those with an eye on future development, given its potential for further capital gain.

Education options are abundant with the property being within the zones of several well-regarded schools, including Villa Maria College (Decile 9), St Thomas of Canterbury College (Decile 8), Middleton Grange School (Decile 9), and more. Its convenient location near Pioneer Sports Stadium and a short distance from Barrington Mall adds to the appeal. This property is a gem waiting to be polished.

Updated on October 16, 2024