1-3/496 Selwyn Street, Christchurch Central, Christchurch

Block of three investments

Auction (unless sold prior)
10am, Thurs 15 Apr 2021
3 Deans Avenue, Chch

Pick up your part of the city centre of Christchurch with this block of three, two-bedroom townhouses. Less than 100m to Hagley Park, this block attracts tenants due to its close proximity to the hospital and central Christchurch, sitting on Residential Central City TC2 zoned land.

The ground floor has two double bedrooms and a bathroom, upstairs is an open plan living/kitchen, with the outdoor living provided via a north-facing balcony. Each unit comes with a single garage and extra income is provided by leasing out a spare off-street car park for an additional $65 per month.

The block has been fully repaired and has full insurance, the vendors have spent in excess of $50,000 in the last few years improving the property, with exterior paint, replacement gutter, landscaping, concreting, some kitchen upgrades, floor finishes, garage doors, extractor fans, insulation making all flats healthy homes compliant.

Currently fully tenanted totalling $55,900 per annum including car parking with rents at, unit 1 $350, unit 2 $360, unit 3 $350, and car park $15pw. Market rent for two-bedroom in this area ranges from $315 to $395pw with a median rent of $345pw, as per the tenancy services website.

- Fully repaired and insured
- Central Christchurch and Hagley Park are a short walk away
- Three garages

The vendors are serious about selling and want to relinquish their hold on this block which they have held for more than 10 years. Secure your returns with this block of flats in the highly sought after inner city of Christchurch.