10 The Crescent, Hillsborough, Christchurch

Huge Price Reduction - Priced Below RV

Enquiries Over $565,000

An immediate income stream and renovation potential are immensely appealing factors to any investor that is looking to bolster their property portfolio, and this three-storey dwelling that's divided into two units offers just that.

As a whole, the property benefits from an updated roof and insulation, and while it is tidy, there is certainly room for buyers to introduce updates and enhancements.

Previously returning a total of $645 per week, the larger unit is currently rented at $345 per week on a fixed term tenancy and occupies the lower two floors of the property. The floor plan features three bedrooms, the master of which is situated alongside the bathroom, laundry and open plan living area on the upper level that also enjoys the presence of a heat pump and new carpet in areas. The additional two bedrooms are found downstairs while a sun-soaked deck presents the perfect spot to relax alfresco.

The second unit is positioned on the top floor of the dwelling and was previously rented out returning $300 per week. The layout comprises an open plan living space which is complemented by a loft while one bedroom with a built-in wardrobe is serviced by the bathroom and a separate laundry. A dedicated deck area that's showered in sunlight is a further bonus, and the inclusion of a heat pump ensures the unit is kept comfortable throughout the seasons.

Established trees envelop the property to offer a feeling of escape, and this belies the home's convenient position with numerous amenities located in nearby St Martins and Cashmere. With the Port Hills right on your doorstep, outdoor enthusiasts will enjoy access to the many walking and biking tracks nearby, including Mount Vernon Farm Track which runs behind the property.

Investors who are looking to expand their rental portfolio will be drawn to this proven performer as will those looking to reside in the top unit while reaping the rewards from renting out the bottom unit.

Info: http://www.propertyfiles.co.nz/property/5510390