1-4/165 Riccarton Road, Riccarton, Christchurch

Invest in the right location

Superbly positioned four doors from Westfield Mall Riccarton, on the main thoroughfare to Hagley Park and the city centre, with multiple motels located close by, this is certainly a property with many opportunities for an investor, land banker or developer.

The four two-bedroom units produce great holding income from well-established tenants who are all keen to stay on. The owner of many years lived in the back unit, so this unit is currently vacant.

Rentals
Flat 1 $320 pw
Flat 2 $350 pw
Flat 3 $320 pw
Flat 4 Vacant was owner occupied

With all the flats occupied the block would produce a holding income of approximately $1,340 per week or $69,680 per annum. The units are in tidy condition but have a potential for renovation and could be modernised into styled apartments for young professionals or Airbnb holiday accommodation, creating more cash flow growth. All units have heat pumps and the insulation complies with the current Healthy Home standard.

With a total land area of 1,011sqm, being approximately 20m wide x 50m deep, on TC2 zoned land and situated in the Residential Medium Density development zone, the future potential for this land is very bright.

- Income potential $69,680 per annum
- Block of 4 x 2 bedroom units
- Fully insured
- Freehold title
- Zoned for Christchurch Boys' and Christchurch Girls' High
- Close proximity to Canterbury University and the College of Education

Our vendors are ready to release their equity after nearly 50 years of ownership and are determined to sell this opportunity with all its potential growth to an investor who likes to plan for the future.

To download the information pack copy and paste the below link into a new browser:
http://propertyinvestmentchristchurch.co.nz/5511697

Please contact Angela Webb for more information or to arrange a viewing.

For any further information please contact Angela Webb via email, phone or text, we are still working hard for our vendors to get a result, we would love to hear from you.