Enquiry over $1,250,000
Positioned on 610sqm (more or less) of TC1, Residential Suburban Zoned land, this substantial eight bedroom student investment has been the standout property within our vendor's portfolio over the past four years. As they exit the student rental market to focus on new ventures, this proven income-producing asset is now ready for its next owner. Currently tenanted on a fixed-term lease through to 29 November 2026, the property returns an impressive $1,680 per week, increasing to $1,880 per week for the next student year.
The upper level comprises three bedrooms, including one with an ensuite, along with a full family bathroom. The middle level provides a further three bedrooms serviced by another bathroom, together with a separate laundry, spacious family kitchen, and generous living area. Large double-glazed French doors open onto a sunny north-facing patio and garden, creating an appealing communal space for tenants. The lower level accommodates an additional two bedrooms, maximising the property's income potential.
• Eight bedroom investment property
• Serviced by three full sized bathrooms
• Generating $1,680 per week, increasing to $1,880 per week for the next student year
• Highly desirable student rental location - 15 minute walk to UC
• 610sqm (more or less) TC1, Residential Suburban Zoned land
• Future potential to reconfigure as a substantial family home
Conveniently located within approximately a 15-minute walk of the University of Canterbury and close to both the Parkstone and Ilam campuses, the property has consistently proven popular with students. Tenants enjoy the convenience of being close to university facilities while appreciating the quiet, tree-lined streets and established residential character that make Ilam such a sought-after suburb.
This property represents an exceptional opportunity to secure a high-performing asset in one of Christchurch's most consistently sought-after locations. Our vendors are motivated and require a sold sticker asap.
To download the property files, copy and paste into your browser: https://www.propertyfiles.co.nz/5530947
