Conveniently located two blocks from the Linwood Village and minutes from the regenerating inner city, on a 1,117sqm section is this block of five one-bedroom flats. The original house was converted into two flats many years ago, with three further purpose-built flats added to the rear of the section. Fully rented this block returns $1,320 per week, with a gross income of $68,640 per annum.

This block boarders the Fitzgerald Retirement Village and is near to Beverley Park with bus stops nearby on Stanmore Road. There is garaging for three units and a carport, as well as outdoor living provided for all the dwellings. The land is zoned Technical Category Two (TC2) with a development zoning Residential Medium Density Zoned land (old L3) making this a sensible land bank option.

Summary of facts and figures:

- Five units

- One freehold title

- Flat 1 $250, Flat 2 $270, Flat 3 $280, Flat 4 $260, Flat 5 $260 per week

- House converted into two flats

- Block of three x one bedroom units

- 1,117sqm

- Technical Category Two TC2

- Residential Medium Density Zoned land (old L3)

- Weekly rental $1,320

- Gross income $68,640pa

With the current ownership spanning 24 years this property has been a great cashflow investment for the owner, who is now ready for a re shuffle and downsize as retirement approaches.

Please contact Angela Webb or Kate Mullins for more information or to arrange a viewing.

Find out more about us at www.propertyinvestmentchristchurch.co.nz.

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