Located at 5 Vogel Street, Richmond, Christchurch, this residential dwelling presents a unique opportunity for those looking to enter the property market. Built in the 1910s, the house features three double bedrooms, a separate lounge for entertainment, and a kitchen, all spread over a floor area of 79sqm. The property sits on a freehold land area of 289sqm with a level contour. The exterior boasts wood construction with an average condition wall and an iron roof, also in average condition. This property, with its fully fenced backyard that enjoys plenty of afternoon sun, is perfect for summer barbecues and offers ample space for children and pets to play.
The property has seen a significant increase in capital value, from $285,000 in August 2019 to $435,000 in August 2022, marking a 52.63% growth. The latest sale was recorded on February 14, 2024, for $300,000, following a previous sale on December 5, 2013, for $252,000. The HouGarden AVM estimates the property's value at $427,500. Despite its age, the property holds potential for further value addition, whether through updates or redevelopment, especially considering its RMD land status and the high demand for land in the area.
The property is zoned for several schools, including Middleton Grange School (Composite, Decile 9), Hillview Christian School (Composite, Decile 7), Shirley Intermediate (Intermediate, Decile 4), Banks Avenue School (Contributing, Decile 4), Christchurch Adventist School (Composite, Decile 5), Mairehau High School (Secondary, Decile 4), Hagley Community College (Secondary, Decile 6), and Marian College (Secondary, Decile 8). This wide range of educational options, combined with nearby amenities such as supermarkets, The Palms shopping centre, and recreational parks, makes this property an ideal choice for families.
