71 Cranford Street, Saint Albans, Christchurch
71 Cranford Street, Saint Albans, Christchurch
Nestled at 71 Cranford Street, Saint Albans, Christchurch, this charming property boasts a 5-bedroom, 2-bathroom layout with a single carpark. Constructed in 1915, the residence features wooden walls and an iron roof, both in average condition, sitting on a levelled 528sqm of freehold land. The property, with a floor area of 130sqm, has seen its Capital Value surge by 50.68% over the past three years, from $365,000 in August 2019 to $550,000 in August 2022. The HouGarden AVM estimates the property's worth at $510,000, while the latest sale was recorded at $322,500 in 2015.
For investors, the property presents a golden opportunity with an annual return of $49,000 from rental income. It's located in a prime school zone, catering to top-rated institutions such as Christchurch Boys' and Girls' High Schools, and Heaton Normal Intermediate. The property's RSDT status holds promise for future development, making it an attractive prospect for those seeking both immediate cash flow and long-term growth.
With Healthy Homes compliance and a convenient location close to the CBD, this property is not just a sound investment but also a promise of a comfortable living environment for tenants. It's a chance to grab a high-yield investment in a sought-after educational zone, where the value continues to appreciate.
Updated on July 04, 2024