Nestled at 440 Worcester Street, Linwood, Christchurch, this residential property on 868m2 of freehold land offers immense potential with its 'As Is, Where Is' status. The 4-bedroom, 4-carpark home, built in 1910 with roughcast walls and an iron roof, has a floor area of 200m2. The property, zoned for medium density housing, has seen its Capital Value (CV) surge by 66.3% from $430,000 in 2019 to $715,000 in 2022. The latest sale fetched $728,000 in 2024, while the HouGarden AVM estimates it at $695,000.
For investors, the current tenants provide a steady income of $1,010 per week. The property's proximity to the city center, cycle lanes, shops, and bus stops enhances its appeal. It falls within the catchment of several schools, including Middleton Grange School (Decile 9) and Marian College (Decile 8), making it an attractive option for families.
With the city rapidly evolving, this property in a prime location presents a golden opportunity for developers and investors to land bank and plan for future development, while enjoying immediate returns.
Updated on July 26, 2024
Wāhi Tiriti | Tawhiti | Tau Rūma Moe | Tau Rūma Horoi | Rohe Whare | Wā Hokona | Utu Hokona | Pūtake Raraunga | |
|---|---|---|---|---|---|---|---|---|
 | 0.06 km | 3 | 1 | 80m2 | 2024 09 16 | $400,000 | Council approved | |
 | 0.10 km | 2 | 1 | 56m2 | 2024 09 16 | $366,000 | Council approved | |
 | 0.13 km | 2 | 1 | 67m2 | 2024 09 05 | $360,000 | Council approved | |
 | 0.06 km | 3 | 1 | 80m2 | 2024 09 04 | $390,000 | Council approved | |
 | 0.04 km | 3 | 1 | 117m2 | 2024 08 04 | $545,000 | Council approved |