3 Ayers Street, Rangiora, Waimakariri

Nestled in the heart of the rapidly expanding township of Rangiora, this exceptional freehold property at 3 Ayers Street boasts a quartet of well-rented units. Constructed in 1950 with mixed materials for both walls and roof, the property stands on a level 629sqm of land, offering a total floor area of 280sqm. Each unit is equipped with a heat pump and dishwasher, alongside private courtyard areas and covered carports. The property's recent Capital Value (CV) has seen a dramatic increase of 53%, rising from $660,000 in August 2019 to $1,010,000 as of July 2022. The HouGarden AVM estimates the property's worth at $985,000, while the latest sales in 2024 and 2020 were at $940,000 and $839,000 respectively.

For investors, the current market conditions present a golden opportunity with low vacancy rates and long tenancies. This property, with its excellent rental history, is a secure investment that offers the potential for further value enhancement. It's located just a block away from Rangiora's main street and a short 40-minute drive from Cathedral Square in Christchurch. The property falls within the catchment area of esteemed schools such as Rangiora High School (Decile 9) and Rangiora Borough School (Decile 7), ensuring strong demand from families.

With a combination of prime location, solid construction, and a thriving rental market, this block of flats is not just a rare find, but also a wise investment for those looking to secure their financial future.

Updated on August 28, 2024