2-4/106 Charles Street, Waltham, Christchurch

City fringe block

SOLD UNDER THE HAMMER

This 1970s block of flats is ready for its new owners. Offering a triple income investment across three x two-bedroom units with a strong lease in place. Each unit has its own cross-lease title, providing the opportunity to sell individually in the future.

Each unit boasts a spacious open plan kitchen and living area, with a northwest aspect opening out to the sunny private courtyards and plenty of outdoor space to enjoy the warmer months. Both double bedrooms have built-in wardrobes and good storage is offered in the single external access garage. Unit 1 has a freestanding garage while units 2 and 3 have garages attached to the block.

Currently fully tenanted to a charitable trust on fixed term tenancies paying $320 per week each, giving a total income of $960 per week.

The property has been fully repaired post-quake and is currently fully insured.

The block of flats sit on a large portion of TC2 Residential Suburban Density Transition Land.

In summary:
- Three x two-bedroom units
- Land zoned TC2, Residential Suburban Density Transition
- Three external access single garages
- EQC repairs have been completed
- Great access to the inner city and major bus routes
- Three individual titles

With the combination of income, space and potential, there is no time to delay purchasing in such a great location. With the vendors set on a sale, this block is worth viewing at your earliest convenience.