146 Blenheim Road, Riccarton, Christchurch

Nestled in the esteemed Riccarton area at 146 Blenheim Road, this Freehold property on 1237 sqm of land is a rare find. The 1940-built home with wood exterior walls and tiled roofing boasts 3 bedrooms, 1 bathroom, and 2 car parks, along with a spacious floor area of 99 sqm. The property, in a fair condition both in walls and roof, presents a level contour ideal for development. The Capital Value (CV) has seen a significant increase of 19.05% from $1,050,000 in 2019 to $1,250,000 as of 2022, echoing the rising worth of this prime real estate. The HouGarden AVM estimates the property's value at $1,200,000, while the latest sales history shows a marked growth from $440,000 in 2016 to $1,050,000 in 2018.

Educationally, the property falls within the zones of several high-performing schools, including Villa Maria College (Decile 9), Christchurch Boys' High School (Decile 10), and Christchurch Girls' High School (Decile 9), ensuring a quality education for the family. This, combined with the property's previous consent for 9 units and the potential for a multiple townhouse project, makes it a sound investment with promising returns.

Currently tenanted with a steady income of $480 per week, this property offers both security and a casual income stream during the planning stages. With no Plan B in sight, the owners are genuinely looking to sell, and negotiation is encouraged. This is a unique opportunity in Riccarton that's not to be missed.

Updated on October 14, 2024