210 Colombo Street, Sydenham, Christchurch

Nestled on a prime corner site in the heart of Sydenham, Christchurch, this charming residential property with a 'Home & Income' category is a freehold opportunity not to be missed. Constructed in 1931 with wood walls and an iron roof, the property boasts 2 bedrooms, 1 bathroom, and a levelled contour across its 240m² land area. The 100m² floor area is well-maintained with average wall and roof conditions, currently leased to Amala Organic Hair for a secured income stream. The property's Capital Value (CV) has seen a remarkable increase of 69.23% from $325,000 in 2019 to $550,000 in 2022, while the HouGarden AVM estimates it at $535,000. The latest sale history shows a transaction at $365,000 in 2024 and $328,000 in 2017, indicating a steady growth in value.

For investors with an eye on future potential, the property is zoned for medium density and is in a sought-after school zone. It is in the decile 9 Villa Maria College, Cashmere High School, and Middleton Grange School, among others. This not only adds to the property's capital growth potential but also ensures a high demand for rental opportunities. The property's location, mere minutes from The Colombo and the city centre, further enhances its appeal as an income earner with redevelopment possibilities.

With a long-term tenant in place and the option for renewals, this property presents a secure investment in a thriving area. The vendor is motivated to sell, offering this property on an 'as is, where is' basis without a plan B. This is a unique chance to secure a piece of real estate with a promising future in a desirable Christchurch suburb.

Updated on August 28, 2024