17 Reading Street, Ilam, Christchurch

Perfect return for your portfolio!

For Sale - Price by Negotiation

Situated within walking distance to the University of Canterbury, this substantial brick rental is the ideal rental investment!

With seven bedrooms in total, four of which are in the main house, a huge bathroom and the added convenience of a separate laundry, this charming home is both aesthetically pleasing and an attractive return on investment. Polished timber floors and wooden joinery create timeless appeal. The neutral decor enhances the sense of space in the open-plan living area, while a heat pump contributes to the warm and inviting ambience. Outside is a three-bedroom modern fully consented sleepout with its own bathroom and this is tidy and fully insulated. The 873sqm section of TC1 land is fenced and plays host to a two car garage and plenty of extra off-street parking.

The rental income is at $995 per week on a fixed-term tenancy till 5/2/2021, the property is professionally managed by A1 property management who would be keen to continue their service for the new owner.

Summary:
- Leased to February 2021 as student accommodation
- Rental income of $995 per week
- Total of seven bedrooms
- Modern and consented three bedroom sleepout
- Two bathrooms
- Updated kitchen with dishwasher
- 873sqm, TC1 land
- Double garage

Buying in this location is the icing on the cake, being so close to the University and Bush Inn shopping centre, providing all constant supply of tenants to ensure the cashflow continues.

Please note, this property is on one standard tenancy agreement, it is NOT a room by room rental.