9b Grassmere Street, Papanui, Christchurch

Nestled in a serene cul-de-sac at 9b Grassmere Street, Papanui, Christchurch, this freehold property built in 1990 boasts 3 bedrooms, 2 carparks, and a floor area of 169sqm on a sprawling 869sqm land. Constructed with durable brick walls and iron roofing, this dwelling offers an average condition throughout. With a current Capital Value (CV) of $590,000, it has seen a remarkable increase of 49.37% from its 2019 valuation of $395,000. The property's potential is further highlighted by the HouGarden AVM estimate of $582,500, making it an attractive prospect for investors and developers alike.

Educationally, the property falls within the catchment area of several high-performing schools, including Christ the King School (Decile 8), Heaton Normal Intermediate (Decile 9), and Villa Maria College (Decile 9). This, coupled with the rapid CV growth, underscores the appeal of this property as a sound investment with long-term value appreciation.

For those with a vision, this property presents a unique opportunity to transform a derelict site into something truly special. Zoned for CCC TC2 Land, the possibilities are endless. Whether it's a seasoned developer seeking a new project or an investor looking to secure a prime piece of real estate, this property is poised to reward those with foresight and ambition.

Updated on November 06, 2024