528 Hereford Street, Linwood, Christchurch

Development land with holding income

This traditional house in three flats has served the current owners well for the past 15 years with a consistent income allowing for strong cashflow.

Each flat is self-contained and fully tenanted.

Flat 1 - One bedroom rental of $230 per week
Flat 2 - One bedroom rental of $230 per week
Flat 3 - Two bedrooms rental of $250 per week
Totalling $710 per week = $36,920 per annum.

The dwelling is fully insured through Tower and has recently been upgraded to comply with the insulation and heating regulation changes coming into play mid 2019. The house has also been reroofed in recent times.

However, the prime asset of this property is the underlaying land which is zoned the old L3 now Residential Medium Density development land and totals 931sqm with a street frontage of approximately 20m.

Either redevelop the complete site, build on the back and increase the cashflow further OR renovate the existing house in and enjoy the rewards this will reap.

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/559007