Nestled on a spacious 779sqm section in the desirable Te Rapa area, this freehold property boasts a charming 5-bedroom, 1-bathroom residence with a single carpark. Constructed in 1950 with mixed materials for the walls and iron for the roof, both are in average condition. The property, with a floor area of 151sqm, is situated on a level contour, providing a solid foundation for potential development. Notably, the capital value has surged by 64.29% from $560,000 in 2018 to $920,000 in 2021, showcasing a rapid growth potential. The HouGarden AVM estimates the property's worth at $927,500, while the latest sale history includes transactions at $294,500 in 2006 and $242,000 in 2005.
For families, the property falls within the catchment area of Fraser High School (Decile 4), Vardon School (Decile 4), and Maeroa Intermediate (Decile 3), ensuring quality education options. Currently rented, this property offers a lucrative rental return of $1,050 per week, making it an attractive investment. With potential for subdivision and the proposed zone change in Hamilton City Council's plan, this property presents a golden opportunity for investors and developers looking to capitalize on the market's growth.
Whether you seek multi-family living or an investment with substantial returns, this property is a rare find. The current owners are leaving the country, creating an incredible chance for you to seize this golden opportunity.
Updated on September 16, 2024
Wāhi Tiriti | Tawhiti | Tau Rūma Moe | Tau Rūma Horoi | Rohe Whare | Wā Hokona | Utu Hokona | Pūtake Raraunga | |
|---|---|---|---|---|---|---|---|---|
 | 0.21 km | 3 | 1 | -m2 | 2024 11 15 | $637,000 | Council approved | |
 | 0.26 km | 2 | 1 | -m2 | 2024 09 20 | $620,000 | Council approved | |
0.24 km | 2 | 1 | 79m2 | 2024 09 14 | $620,000 | Council approved | ||
 | 0.06 km | 3 | 1 | -m2 | 2024 08 28 | $870,000 | Council approved | |
 | 0.22 km | 2 | 1 | 100m2 | 2024 07 22 | $455,000 | Council approved |