199A Cranford Street, St Albans, Christchurch

Cashflow and land bank

SOLD UNDER THE HAMMER

This multi income home comes to market for the first time in nearly 10 years. With improvements being made along the way the property currently has two dwellings on it. The first being a three-bedroom house, and the second being a one-bedroom plus study unit. All fully consented and compliant with the Christchurch City Council.

The tenants have been in the property long term and would like to stay on as it is a great place to live. The house is on a fixed-term lease until November 2021 paying $415 per week, and the flat is on a fixed term until March 2022 paying $290 per week.

The property is fully insured. Sitting on 840sqm of TC2 Residential Suburb Density Transitional development land, this property is ready for you to enjoy the strong cash flow as our current vendors have done. It is also perfectly positioned between two sets of shops as well as English and Malvern parks. Well set back from the busy Cranford Street with excellent off-street parking, tenants appreciate the quiet living.

Summary

- Three bedroom house
- One bedroom plus study flat
- Multi income
- Fully consented
- Land area 840sqm
- TC2 RSDT

Our vendors are keen to move this well-located investment property onto the next happy owners as a good cashflow property and land bank for future development.