Enquiry Over $2,900,000
Private viewing by appointment - please contact agents
Located in the highly sought-after rental suburb of Riccarton, this triple-income investment property presents an outstanding opportunity. The property comprises three dwellings, two with six bedrooms and one with seven bedrooms, delivering strong, reliable rental returns with significant potential for future growth. Well suited to a buy-and-hold strategy, it also offers long-term subdivision and redevelopment potential.
Situated on an 759sqm (more or less) freehold site, the property is zoned High Density Residential. Fully tenanted with fixed-term leases in place until late 2026, the property generates a combined rental income of $3,895 per week, ensuring immediate and consistent cash flow from day one.
• 19 bedrooms total
• Generating $3,895 per week until late 2026 and increasing to $4,370 per week until late 2027
• 759sqm (more or less) freehold site with High Density Residential zoning
• Planning report available outlining potential for two additional student accommodation dwellings
• Fully compliant with Healthy Homes Standards
• Ample off-street car parking
Conveniently positioned close to the University of Canterbury and Westfield Mall, the property is highly attractive to university students and young professionals alike. The combination of strong holding income, future development potential, and a premium location makes this an exceptional opportunity for long-term land bankers or savvy investors.
Significant future upside is available, with a planning report outlining the potential to remove the front villa and develop two new student accommodation dwellings. Recent planning changes may allow for three new builds instead (subject to council consent). This creates a strong opportunity to increase rental income and enhance overall asset value, supporting both short-term returns and long-term capital growth.
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