612-614 Cashel Street, Linwood, Christchurch

Multi income investment

For Sale - Negotiation over $1,100,000

The perfect 7% plus yielding property. For the astute investor, boasting huge value in the land as well as good cash flow for many years to come.

The land is zoned Residential Medium Density and TC2, it is 1,162sqm and has two freehold titles, all adding to the appeal of the property for potential future development.

The house itself is separated into five one-bedroom flats, each flat is fully self-contained and brings in a total income of $1,510 per week with a rental range from $280 to $315 per week, per flat. The vendor has created a private and safe environment with an electric security gate, private and landscaped courtyards, and off-street parking for all tenants. The EQC work has all been completed and the flats are presented nicely and professionally managed. All the flats have insulation in the ceiling, heating installed, with four heat pumps, a panel heater and underfloor heating in tiled bathrooms.

In summary:

- Five x one bedroom units
- 7% plus return
- Great off-street parking for the tenants
- 1,162sqm RMD land
- TC2 land zone
- Two titles

The owners have enjoyed the constant cash flow from this property but it's time for them to hand over the property to someone looking for returns over 7%. This cash flow king is ready for new owners to take advantage of this property's value.

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

Find out more about us at http://www.propertyinvestmentchristchurch.co.nz.