23 Mitcham Avenue, Forest Lake, Hamilton

Nestled in the serene Mitcham Avenue of Forest Lake, Hamilton, this charming 1950's residential dwelling boasts 3 ample-sized bedrooms, a cozy bathroom, and a spacious living area that opens up to a sun-kissed deck. The property sits on a level contour with wooden walls and tiled roofing, both in average condition. It is governed by a Cross-Lease ownership type. The capital value has seen a remarkable increase of 63.86% from $415,000 in September 2018 to $680,000 in September 2021. The latest sale history includes transactions in 2018 and 2016 at $435,000 and $356,500 respectively, while the HouGarden AVM estimates the property at $685,000.

For the investors, the property is not only healthy homes compliant but also features a heat pump and ducted ventilation system for year-round comfort. Additional perks include a separate laundry, a garden shed, raised vegetable gardens, and partial LED lighting upgrades. The location is strategically positioned with easy access to the CBD, Base Shopping Centre, and walkways. It falls within the catchment area of Fraser High School (Decile 4), Forest Lake School (Decile 4), and Maeroa Intermediate (Decile 3), offering an outstanding educational opportunity.

With a clear CV growth trajectory and a rental appraisal of $720/$690 per week, this property presents an exciting chance to climb the property ladder or expand one's portfolio.

Updated on September 17, 2024