691 Gloucester Street, Linwood, Christchurch

Potential for an 8% plus return

SOLD - OPEN HOME CANCELLED WEDNESDAY, 11 OCTOBER 2023

Discover a unique property that offers not just a home, but a potential for multiple income streams. Set on an expansive 640sqm land, this investment promises both immediate revenue and future land-banking benefits. Spanning 140sqm, this house has been cleverly divided into two separate flats, ensuring versatility, and maximizing your investment potential. The rear flat features two bedrooms, one bathroom, a cosy living space and a separate kitchen.

Currently, the owner resides in the front flat while the back flat awaits your occupancy. Vacant possession is available as an option. With rental appraisals suggesting potential earnings of up to $920 per week for both units combined, generating a positive cash flow poses no concerns.

The front flat has undergone recent improvements, including fresh paint and new carpeting, enhancing its appeal and value. Both flats are equipped with modern amenities, including heat pumps, log burners, rangehoods, and extractor fans, ensuring they meet Healthy Homes compliance standards.

•Rental appraisals indicate potential earnings of up to $920 per week.
•Potential for an 8% plus return
•1 x 2-bedroom and 1 x 3-bedroom flats
•640sqm of TC3 RSDT land

This location is sought after by both tenants and owner occupiers being the last affordable suburb close to the inner city. Seize the chance to secure your foothold in the world of property investment. Our vendor is selling up and moving across the ditch, with land and strong cashflow don't miss this opportunity.