16a Piko Crescent, Riccarton, Christchurch

Nestled at 16a Piko Crescent, Riccarton, Christchurch, this Residential - Dwelling is a Freehold property built in 2001 with a Tiles roof and Fibrous Cement walls in good condition. It boasts a floor area of 129sqm and is situated on a level 698sqm of land. The property features five spacious bedrooms and is designed for comfort with potential for strong rental income. The Capital Value (CV) has seen a remarkable increase of 40.82% from $490,000 in 2019 to $690,000 as of 2022. The HouGarden AVM estimates the property's value at $632,500, while the latest sales were recorded at $550,000 in 2020 and $820,000 in 2024. It is within the catchment area of several high-performing schools, including Villa Maria College (Decile 9), Christchurch Boys' High School (Decile 10), and Christchurch Girls' High School (Decile 9), making it an ideal investment for families and investors alike.

Currently leased until January 2025, the property offers a consistent rental income of $825 per week, increasing to $875 per week in 2025 under a fixed-term lease. This well-maintained property with full double glazing and ample storage presents a compelling opportunity for both rental yield and future capital growth.

With its prime location, within walking distance to the University of Canterbury and Westfield Mall, and its strong student rental income potential, this property is a sound and profitable asset to enhance any investment portfolio.

Updated on December 11, 2024