Affordable investment

1/53 Mathesons Road, Phillipstown

Offers/Enquiries Over NZD $235,000

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Affordable investment | 1/53 Mathesons Road, Phillipstown | 5514457 |      X Close

Affordable investment

For Sale - Negotiation over $235,000

Jump at the opportunity to own a large unit at the front of a block of six. Currently fully tenanted and returning well for its owner. With the first lease coming up in October, secure your returns now!

With two single rooms and a double bedroom overlooking the courtyard upstairs. Having a bathroom, separate toilet and with the kitchen and living leading to a private fenced and secure rear courtyards. There are also two off-street parks out the front of the property. At the rear of the property is a single garage for additional tenant storage.

Currently rented at $285 per week 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 most of the works being completed, there will be a small EQC payout transferred upon settlement for the remaining funds.

Sited on TC2, medium density land with a cross lease title having a share in 885sqm of land and a rateable valuation of $200,000. The opportunity here is to buy an affordable investment 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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1/53 Mathesons Road, Phillipstown

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