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Riccarton

116 Clarence Street, Riccarton, Christchurch

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324sqmย Land area SQM
5ย Bedrooms
1ย Lounges
2ย Bathrooms
6ย Offstreet

Entry level investment, great returns


SOLD UNDER THE HAMMER

Seeking a lucrative investment offering exceptional returns and a prime location? Featuring five bedrooms and two full-sized bathrooms. This residence is purpose-built to provide comfort, convenience, and a robust rental income.

Currently leased on a 12-month fixed term tenancy until 26th January 2025, this property generates a steady income of $900.00 per week, with potential to increase further come January. The property has seen on average two days vacancy per year, giving close to 100% occupancy since built. Located between Christchurch Hospital and the University of Canterbury.

- Five double bedrooms
- Two spacious bathrooms, each with a shower and toilet
- Current rental income of $900 per week, with potential to increase come Jan 2025
- 324sqm of freehold, TC2, Residential Medium Density Zoned land
- Walking distance to Christchurch Hospital and the University of Canterbury
- Open-plan kitchen and living area
- Six generous off-street car parks
- Fully Healthy Homes compliant

Constructed in 2000 and recently upgraded to meet modern tenants' preferences, this property has been meticulously maintained and upgraded. Over $100,000 has been invested in enhancements, including a complete re-clad with cavity, new roof, insulation, double glazing, and fresh paint and carpet.

This property offers a compelling combination of reliable rental income and significant potential for future capital growth. With existing, high-quality tenants providing immediate cash flow and a sense of security, this opportunity is not to be missed.

Our motivated vendor is eager to pursue new projects and is keen to finalize the sale on or before auction day. Secure this outstanding investment today and enjoy the benefits of a sound and profitable addition to your portfolio.

Auction
(unless sold prior)

3 Deans Avenue, Chch

20

Jun

Time12pm
Calander
Calendar
Grace Bruere

Grace Bruere

Residential and Investment Sales

Whalan and Partners Ltd, Bayleys,
Licensed under the REA Act 2008
Angela Webb

Angela Webb

Residential, Investment and Development Sales

Whalan and Partners Ltd, Bayleys,
Licensed under the REA Act 2008

Features

Income


$46,800 per annum

Investment


Strong cash flow from one tenancy. Close to 100% occupancy rate since built

Location


Prime location to attract quality tenants

Modern


Purpose-built property that has recently undergone just over $100,000 worth of upgrades, including being re-clad with cavity, re-roofed, double-glazed, re-painted and re-carpeted