9/187 Ashgrove Terrace, Somerfield, Christchurch

Located at 9/187 Ashgrove Terrace, Somerfield, Christchurch, this charming property offers three bedrooms, a single garage, and a secure courtyard, all within a floor area of 120 square meters. The home, built in 1992, features a brick exterior and an iron roof, both in good condition. It is a Cross-Lease title within a residential ownership home units category, boasting a level property contour, ideal for various living arrangements. The open-plan kitchen/dining area, alongside a generous living space, provides a cozy and inviting atmosphere. The master bedroom, equipped with a built-in wardrobe, along with another similarly sized room and a third room suitable for an office or additional bedroom, make this property versatile for different needs.

The property has seen a significant increase in capital value, from $470,000 in August 2019 to $630,000 in August 2022, marking a 34.04% growth. The latest sale, in January 2024, was at $615,000, slightly below the HouGarden AVM of $602,500. This growth trajectory indicates a solid investment, with the property's yield falling within the range of a "Growth Property" according to the rental appraisal of $580-$620 per week, yielding a gross rental yield of 4.79%-5.13%.

Zoned for Somerfield Primary & Cashmere High Schools, the property is situated in a highly desirable area. It is near Villa Maria College, St Thomas of Canterbury College, Middleton Grange School, Christchurch South Karamata Intermediate, Our Lady of the Assumption School, Somerfield Te Kura Wairepo, Hillview Christian School, Christchurch Adventist School, and Hagley Community College, all of which boast high decile ratings. This location offers a blend of urban living and natural beauty, with proximity to picturesque hills and local amenities, making it an excellent choice for families or individuals seeking quality education and a serene living environment.

Updated on April 06, 2024.