Cashflow investment


18A Renfrew Street, Upper Riccarton

By Negotiation

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Cashflow investment | 18A Renfrew Street, Upper Riccarton | 5515995 |      X Close
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Cashflow investment


Price by negotiation.

Please call for viewing times.

The vendor is keen to see this cashflow investment sold. This large eight-bedroom student residence brought its current owner's great cash flow and consistency of rent over the years of ownership. With the property being maximised for student rental income, the main dwelling remains as a three-bedroom house with a bathroom and kitchen. A purpose-built sleepout accommodation has two bedrooms and two bathrooms and is fully consented. The garage has also been converted into three additional bedrooms.

The current single tenancy finishes at the end of November and the tenants are paying $1,120pw. The next single year-long tenancy commences in early December 2021 at $1,160pw till November 2022, allowing a few days vacancy to carry out any maintenance or cleaning required.

The property is in good condition and well cared for by the current owner with the bathrooms and kitchen being modernised. With its proximity to the Bush Inn shopping complex and the University of Canterbury, it is a popular location to rent for students.

The property has been fully repaired and is also insured. The owner has also ensured that it is fully Healthy Homes compliant for the tenants. The dwelling sits on a rear section, backing onto an athletics track. The 1950s home sits on 931sqm of TC1 Residential Suburban land.

- Existing lease $1,120pw finishing end Nov 2021

- Signed lease $1,160pw starting Dec 2021

- 100sqm home with two x 55sqm multi-bedroom sleepouts

There is ample room for off-street parking and plenty of additional outdoor space for tenants to enjoy. Our out-of-town vendor is ready to cash up his investment.

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

https://propertyinvestmentchristchurch.co.nz/18a-renfrew-street

Angela Webb

Christchurch

Licensed under the REA Act 2008

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Cooper Stewart

Christchurch

Licensed under the REA Act 2008

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18A Renfrew Street, Upper Riccarton

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Angela Webb

Christchurch

Licensed under the REA Act 2008

View profile

Cooper Stewart

Christchurch

Licensed under the REA Act 2008

View profile