Positioned on a 688sqm (more or less) TC1 Medium Density Residential-zoned land, the property enjoys a prime location within walking distance to the University of Canterbury and Bush Inn, making it ideally suited for student accommodation. Currently returning $1,480 per week on a fixed tenancy through to January 2027, it offers immediate income with excellent long-term investment potential.
• 688sqm (more or less) of TC1, Medium Density Residential zoned land
• Walking distance to the University of Canterbury
• Generating a rental income of $1,480 per week on a fixed term tenancy until January 2027
• Rental appraisals indicating up to $1,600 per week
• Generous off-street parking
• Eight large bedrooms, two bathrooms
• Resource consent in place for the eight bedrooms
Delivering a strong and reliable rental return, this property presents an outstanding opportunity for investors seeking a high-performing addition to their portfolio. Character timber flooring flows throughout the main living areas, seamlessly connecting the spacious lounge and dining room. The updated kitchen is both practical and well-appointed, offering ample storage and functionality for everyday living.
The home comprises five generous double bedrooms serviced by two bathrooms, while a purpose-built sleepout provides a further three double bedrooms, creating a total of eight bedrooms. Original rimu detailing in the main dwelling add warmth and timeless character, complementing the home's modern improvements.
Offering peace of mind, the property has a full EQC scope with all repairs completed by a previous owner. It is fully insured and benefits from resource consent for all eight bedrooms. Further enhancements completed by the current owners include extensive re-gibbing, underfloor insulation, new guttering, a low-maintenance section, and ample off-street parking.
The owners are committed to selling and are highly motivated to achieve a sale on or before auction day.
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