3 Newbridge Place, Ilam, Christchurch

Nestled at 3 Newbridge Place, Ilam, Christchurch, this residential dwelling on a freehold title boasts 5 bedrooms, 1 bathroom, and 2 car parks. Constructed in 1970 with concrete walls and tiled roof, both in good condition, this level property spans a floor area of 131 square meters and a land area of 607 square meters. The capital value has seen a significant increase from $570,000 in 2019 to $800,000 as of August 2022, marking a growth of 40.35%. The property's mid-century architecture and potential for renovation make it an appealing investment, especially given its proximity to the university and a lucrative rental market.

With a HouGarden AVM of $770,000 and a latest sale record of $363,000 in 2012, this property presents a sound investment opportunity. The consistent rental return of $930 per week adds to its allure, hinting at the possibility of an even greater yield. The current climate of declining interest rates may well预示 property prices to rise, making this an ideal time to purchase.

For families with educational considerations, the property falls within the zones of several well-regarded schools, including Ilam School (Decile 6), St Patrick's School (Bryndwr) - a Full Primary with Decile 10 rating, and Villa Maria College (Decile 9), among others. This property not only offers a prime location for educational pursuits but also stands as a 'blue chip' investment that promises long-term value.

Updated on October 30, 2024