House converted into flats, 8.1% return


73 Tancred Street, Linwood

Asking Price NZD $729,000

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House converted into flats, 8.1% return | 73 Tancred Street, Linwood | 556414 |      X Close
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Description

House converted into flats, 8.1% return


Asking price - $729,000

Always a favourite with investors the house in flats has always been a great income generating prospect to add to your portfolio to help get the balance right.

There is a cottage at the rear and the older roughcast house has been divided into three flats many years ago to be rented out individually. All this has been providing an income of $1,139 per week, returning over 8%

Facts and figures

- Three flats and cottage at rear

- Garaging for all units

- 1,426sqm, TC2, Residential Suburban Density Transition Zone section

- Heat pumps for all units

- Insulation upgrades completed

- Well maintained

- Dual access with two new concrete drives

Rentals

- Two Bedroom Cottage $320 per week

- One bedroom flat $239 per week

- Two bedroom flat $285 per week

- Two bedroom flat $295 per week

This unique opportunity has plenty to offer both the owner and its tenants. The four flats all have their own entrance, heat pump, garage space and are serviced by two separate driveways which add to the spacious feeling of the property.

The cute cottage offers a double garage and its own private garden oasis with established fruit trees. You may want to live in this cottage and keep a close eye on your investment?

The quiet location offers something for everyone to enjoy within minutes. Head North to explore the extensive Avon River red zone space, East to the substantial Eastgate Mall, South to the ever popular Under The Red Veranda Cafe and West to the Central City.

How often do you see returns over 8% now days?

This property also offers great future development potential with 1,426sqm Residential Suburban Density Transition Zone land and potentially existing use rights for four dwellings (subject to CCC approval).

A house converted into flats never sit around for long so call now, viewing by appointment.

To download the information pack copy and paste the below link into a new browser: http://propertyinvestmentchristchurch.co.nz/556414

73 Tancred Street, Linwood

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