Multi income investment

1 and 2/53 Mathesons Road, Phillipstown

Offers/Enquiries Over NZD $465,000

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Multi income investment | 1 and 2/53 Mathesons Road, Phillipstown | 5514357 |      X Close

Multi income investment

For Sale - Negotiation over $465,000

Jump at the opportunity to own a pair of units sit at the front of a block of six. They are currently fully tenanted and returning well for their owners. With the first lease coming up in October, secure your returns now!

The two townhouses are slightly different in their layout. Flat one has two single rooms and a double bedroom overlooking the courtyard upstairs. Flat two has two double bedrooms upstairs. Both have a bathroom and separate toilet upstairs and a kitchen and living leading to a privately fenced and secure rear courtyards. Flat one also has two off-street parks out the front of the property. Each has a single garage at the rear of the property.

Total rental income of $580 per week combined, with good tenants who are keen to stay on.

While updated with a repaint post-quake, there is still room to update these units to give them a modern apartment feel, allowing the potential to achieve higher rental yield and equity. Earthquake damage was minimal with a payout of approx. $17,000 for both flats, with most of the works being completed.

Sited on TC2, Medium Density land with cross lease titles having a share in 885sqm of land and a rateable valuation of $395,000 for both units combined.

The opportunity here is to buy a multi income property with room for growth in the rental and with a bright future for capital growth being so close to the edge of Christchurch's rebuilt inner city.

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1 and 2/53 Mathesons Road, Phillipstown

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