86, 86A and 86B Creyke Road, Ilam, Christchurch

Two houses, student rentals

For Sale - Price by Negotiation

Two rear residences, tenanted to 2021, with the opportunity to develop further in the future, sited very close to the University of Canterbury.

86a - Purpose built-in 2014 with six bedrooms and two bathrooms. 108sqm, modern and quality student rental. Living and deck positioned for the sun. Rental income $945 per week. New lease signed for the 2020 year till January 2021.

86b - Original brick residence with five bedrooms, large living and renovated kitchen. Updated insulation and heat pump in place. Rental income $750 per week. New lease signed for the 2020 year till January 2021.

Combined income of $1,695 per week, generous car parking on an easy-care section requiring minimal attention. Residential Suburban Density Transition zone, TC2 land and new 672.86sqm (approx) freehold title being formed.

Not only is it a great return it has future upside with the option to remove the older home and redevelop the site with a larger modern student house.

Please note that the land area is subject to the final survey being completed and title issued.

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.