1-4/934 Colombo Street, St Albans, Christchurch

Dual Income or Re-Development Opportunity

Auction Sale (unless sold prior)
12pm, Thu 9 Oct 2025
3 Deans Avenue, Christchurch 8011

Offering a rare combination of location, scale, and flexibility, this unique property presents a valuable opportunity for investors seeking a multi-income asset or future development options. Situated on a generous 695sqm (more or less) of Medium Density Residential-zoned land spread over three titles, it offers immediate rental income with long-term upside.

The dwellings span 303sqm (more or less) and are configured into four separate flats, providing a mix of tenancy options to suit a broad rental market. The layout has been optimized for rental yield; Flat 1 comprising of three bedrooms, kitchen, lounge and one bathroom. While Flats 2, 3, and 4 are made up of one bedroom, kitchen, lounge and one bathroom each.

• Current rental income: $1,540 per week from a mix of periodic and fixed-term tenancies
• Rental appraisals up to $2,040 per week indicate potential for increased weekly returns
• 1 x 3 bedroom flat and 3 x 1 bedroom flats
• 695sqm (more or less) of land across three titles
• Zoned for Christchurch Girls' and Boys' High Schools
• Located near key bus routes and walking distance to the CBD and One Stadium
• Medium Density Residential zoning supports future development

With stable income in place and rental upside identified, this property offers a solid holding opportunity for land banking or staged redevelopment. Its city fringe location, zoning, and site configuration make it well-suited to investors seeking flexibility, future gains, and consistent cash flow.

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