7/74 Hansons Lane, Upper Riccarton, Christchurch

Located at 7/74 Hansons Lane, Upper Riccarton, Christchurch, this residential property offers a unique investment opportunity. The unit, built in 1999, features 5 bedrooms, a floor area of 107 square meters, and comes with 2 car parks. Constructed with concrete walls and an iron roof, both in good condition, it sits on a level contour under a Unit Title ownership. The property is part of the Canterbury Village, designed specifically for student accommodation, and is fully furnished, including white ware. Each bedroom is a double, equipped with built-in desks and wardrobes, with one bedroom located downstairs and the remaining four upstairs. The open plan kitchen/living area includes a heat pump and provides good indoor/outdoor flow to a patio and shared lawn area. There are two bathrooms, each with a shower and toilet, located on different floors, alongside a laundry area.

From a financial perspective, the property has seen a significant increase in capital value, from $360,000 in August 2019 to $430,000 in August 2022, marking a 19.44% growth. The latest sale recorded on February 26, 2024, was at $500,000, up from $185,000 back on September 15, 2000. The HouGarden AVM estimates the property's value at $412,500.

The property is zoned for several high-decile schools, including Villa Maria College (Decile 9), Middleton Grange School (Years 11 - 13) (Decile 9), St Thomas of Canterbury College (Decile 8), Kirkwood Intermediate (Decile 7), Riccarton High School (Decile 6), Hagley Community College (Decile 6), and Christchurch Adventist School (Decile 5), with Riccarton School being the exception at Decile 3. Its location is ideal for students, being within walking distance to the University of Canterbury, close to the Countdown Supermarket, and the Bush Inn Centre shops and restaurants.

Updated on April 04, 2024.