Prime Location - 4 x 1 Bedroom Units
A rare opportunity to purchase this block of 4 x 1 bedroom flats in such a prime location. Situated on one freehold title of 796m2 of RSDT, TC3 land.
Constructed in 1970-79, permanent material concrete block, mostly single glazed aluminium joinery throughout, new double glazed ranch sliders and coloursteel iron roof. External walls are insulated with high density foam and insulation batts in ceiling. Recently painted exterior walls and roof to make it look modern and stylish.
This block is well maintained and in great condition, with all units having modern kitchens with electric hobs, under bench ovens, rangehood, dishwasher and plenty of bench space and cupboards. Spacious living and dining area with heat pumps. Good indoor-outdoor flow to the private and sunny northwest facing paved patio and easy care grassed and garden area. Fully fenced. Good quality carpets, drapes, vinyl tiled floors and neutral decor throughout and LED lighting. One large double bedrooms with built in wardrobes. Bathroom with separate shower, large vanity and wall mirror, laundry facilities and separate toilet.
• 4 x 1 bedroom units on one title
• 796m2 of RSDT, TC3 land
• Total Floor Area 250m2
• Each unit has a single carport.
• Good holding income
Great holding income rented at $370.00, $350.00, $370.00 and $370.00 per week. Returning $1,460.00 per week = $75,920.00 per annum. Good tenants in place with room for improvement on current rental.
Zoned RSDT, TC3 on 796m2 of land, great land bank for future redevelopment. There are four newly installed single carports. Recently laid asphalt driveway, new drains and four new separate water mains connected to the one existing water main at street.
Prime location on the edge of the St Albans, this property is both handy to Merivale Mall, Edgeware Village and local shops, the Central City and public transport. English Park is just over the fence and St Albans Park, Rugby Park and Christchurch Park all close by. Zoned for St Albans school, Heaton Intermediate, Papanui High and Christchurch Girls and Boys high schools.
If you are looking for a low maintenance investment block in a prime location then this is the block for you.