Multi income plus RSDT Land


193 Geraldine Street, St Albans

By Negotiation

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Multi income plus RSDT Land | 193 Geraldine Street, St Albans | 5514832 |      X Close
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Multi income plus RSDT Land


For Sale - Price by Negotiation

This chocolate box cottage was divided into two flats many years ago, you could keep it as a cash flow investment with the two incomes, renovate and create a three-bedroom family home or land bank for the future. Sited on 473sqm of TC3 Residential Suburban Density Transitional land, it is ripe for future development within the ever-popular suburb of St Albans.

The front flat is a one-bedroom unit, while the rear flat has two bedrooms and a good size living space, both flats are original condition and have not had a days vacant since 2012 when the vendors purchased it. Due to the property lack of vacancies, the EQC work has never been completed and a cash settlement of $15,836.49 will be transferred to the purchaser upon settlement.

Returning a total of $440 per week across the two tenancies, with the two-bedroom at $245 per week and the one-bedroom at $195 per week. Market rent for two-bedroom's in this area ranges from $324 to $370 per week, and one-bedroom's range from $273 to $305 per week, as per the tenancy services website, this gives you some idea of the potential income this property could be producing. St Albans has always been a popular area that attracts tenants with its ease to the central city and boarding quality suburbs like Merivale.

- One x two bedroom flat plus a one-bedroom flat

- Residential Suburban Density Transitional land

- Cash transfer $15,836.49

The vendors are looking to cash out, passing on this great investment opportunity. Securing this great piece of land just makes sense!

To download the information pack copy and paste the below link into a new browser:

https://propertyinvestmentchristchurch.co.nz/193-geraldine-street

193 Geraldine Street, St Albans

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