115 Pine Avenue, South New Brighton, Christchurch

Introducing a charming 1920s two-bedroom cottage with Art Deco influences, located at 115 Pine Avenue, South New Brighton, Christchurch. This unique property features a separate studio complete with laundry, shower, and WC, making it an ideal investment opportunity. The house sits on a 531sqm freehold title, boasting a floor area of 47sqm. Its exterior is adorned with roughcast walls in good condition and an iron roof, also in good condition, replaced in 2015. The property's contour is described as easy/moderate rise, and it includes a driveway and retaining wall reconstructed in 2014. Despite its 'as is, where is' sale condition due to substandard earthquake repairs, this property offers heaps of potential for the right buyer.

Over the years, the capital value of this property has seen significant growth, from $225,000 in August 2019 to $375,000 in August 2022, marking a 66.67% increase. The HouGarden AVM estimates its value at $367,500. The latest sale recorded on June 2, 2023, was at $435,000, a substantial increase from its $108,000 sale price back on January 8, 2001. This property's capital value growth and recent sale history highlight its potential as a profitable investment.

Located in a vibrant seaside community, this property falls within the zones of several reputable schools, including Middleton Grange School (Years 11 - 13) with a decile rating of 9, and Hillview Christian School with a decile rating of 7. Other nearby schools include Shirley Boys' High School, Avonside Girls' High School, Haeata Community College, South New Brighton School, Christchurch Adventist School, Hagley Community College, and Marian College, with decile ratings ranging from 1 to 8. This wide range of educational options makes it an attractive choice for families looking for quality schooling.