533 Gloucester Street, Linwood, Christchurch

Located at 533 Gloucester Street, Linwood, Christchurch, this property presents a unique investment opportunity. It is a freehold property with a land area of 1012 square meters and a floor area of 290 square meters. The building, constructed in 1960 with brick walls and tile roofing, consists of residential rental flats specifically designed for this purpose. The condition of both the walls and roof is average, and the property is level. It features 3 new skyline garages built in 2011, 4 heat pumps installed in 2021, a roof replacement around 2015, a new driveway and paths laid in 2015, and new drainage channels in the driveway also added in 2015. Additionally, there are 4 off-street parking spots available.

The capital value of the property has seen a significant increase, from $730,000 on August 1, 2019, to $1,100,000 on August 1, 2022, marking a 50.68% rise. The latest sale recorded was on July 9, 1998, for $265,000. The HouGarden AVM estimates the property's value at $1,082,500. This property is currently tenanted on a periodic basis, making it an excellent addition to any investment portfolio.

The property is situated within the zones of several reputable schools, including Middleton Grange School (Years 11 - 13) with a decile rating of 9, Hillview Christian School (decile 7), Linwood North School (decile 2), Christchurch Adventist School (decile 5), Hagley Community College (decile 6), Marian College (decile 8), and Te Aratai College (Year 7&8) with a decile rating of 3. This diverse range of educational institutions adds to the property's appeal for families and investors alike.