1/62 Linwood Avenue, Linwood, Christchurch

House converted into Flats

Unique opportunity to purchase a house converted into 1 x 2 and 1 x 1 bedroom flats. Located on the lovely tree lined section of Linwood Avenue.

At the time when this property was converted from one house into flats it was common practice, investors were able to increase the cashflow by doing the conversion, as time has moved on there is a limited number of these properties left as they get demolished and re developed or converted back into family homes as times change.

Situated on 1,011sqm of cross leased land, zoned TC2 and located within the development Residential Transitional Zone.

Currently rented at $190 per week for the one bedroom and $225 per week for the two bedroom giving a total rental income of $415 per week.

Plenty of potential to increase rental levels through renovation, with each flat having its own large outdoor space it gives the smart buyer the opportunity to turn these flats into homes to attract long term tenants.

Other flats in the same area rent in the range of $285 to $315 per week for two bedrooms and $220 to $256 per week for one bedrooms, giving plenty of upside to gain more cashflow form this property.

The property is fully insured with no outstanding EQC claims, the insulation and heating has been upgraded to comply with the government regulations that come into play in 2019.

A great opportunity for any investor wanting a low entry level investment with plenty of upside and cashflow opportunities.

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.

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