House in flats = development project


60 Wellington Street, Phillipstown

By Negotiation

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House in flats = development project | 60 Wellington Street, Phillipstown | 559002 |      X Close
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House in flats = development project


This house in two flats has seen better days, it was built in 1910s and converted years ago when it was common practice. Positioned on a corner site, zoned Medium Density Residential and situated on TC2 land it is packed full of potential and is either ready for a makeover or a redevelop.

This fully insured investment opportunity has a good holding income plus some upgrades have already been completed to comply with changes to heating and insulation regulations coming into play mid-2019.

Flat 1 - Two bedrooms and rented at $210 per week

Flat 2 - One bedroom and rented at $100 per week (a very long term tenant)

Totalling $310 per week = $16,120 per annum

Floor area 120sqm

Land area 468sqm

TC2 zoning

Medium Density Residential zone

This property has served its owner very well for 15 years with strong consistent cashflow however they are now ready to move on. Here on offer is a great entry level investment for the keen enthusiastic handyman or a prime redevelopment opportunity, take your pick.

View by appointment.

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.

To download the information pack copy and paste the below link into a new browser: http://propertyinvestmentchristchurch.co.nz/559002

60 Wellington Street, Phillipstown

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