12 Auburn Avenue, Upper Riccarton, Christchurch

Nestled at 12 Auburn Avenue, Upper Riccarton, Christchurch, this Freehold property boasts a residential dwelling with 6 bedrooms, 1 bathroom, and 2 car parks. Constructed in 1940 with fibrous cement walls and tiled roofing, it spans a floor area of 98sqm and a land area of 663sqm. The property, with an average wall and roof condition, is situated on a level contour. The government's capital value (CV) has seen a rapid increase from $495,000 in 2019 to $700,000 in 2022, reflecting a growth of 41.4%. HouGarden AVM estimates the property's value at $670,000, while the latest sales were recorded at $270,000 in 2012 and $225,000 in 2009.

For families, the property falls within the zones of esteemed schools such as Ilam School (Decile 6), Villa Maria College (Decile 9), and Kirkwood Intermediate (Decile 7), among others. This, combined with the modern transformation and impressive rental returns, makes it a lucrative investment opportunity. Sliding doors open to a covered deck, adding to the allure of this meticulously upgraded complex, which includes two double bedrooms with ensuite bathrooms and a separate living area.

With a rental income of $1,170 per week during the student year, this property is not just an investment but a secure addition to any investor's portfolio. Its proximity to Canterbury University and the Bush Inn shopping complex further enhances its appeal.

Updated on April 12, 2024