69 and 69a Peverel Street, Riccarton, Christchurch

8.3% Return a Block from Westfield

Negotiable over $999,000

How often do you get over 8% returns in Riccarton?
Two x six bedroom houses on one title located within a block from Riccarton / Westfield Mall.

Both houses have had extensive upgrading, new kitchens, heat pumps, wall mounted TV's to each room, insulation plus re-wiring and re-plumbing to front older house.
Sited on 607sqm of L3 development land, zoned TC2 under Canterbury Earthquake Recovery zoning, the vendor has looked into the development potential for the land and believes four units could be built on this site in the future.
Standard leases are in place till February 2014 at $799 and $798 per week,
If existing tenants are not interested in resigning for next year, the owner would advertise shortly and sign new tenants up for February when the student market is busy moving flat.
EQC claim and insurance policy in place and transferable to new owner.

This is an established investment property that has been returning a strong income for the owner for many years.