This 5 bedroom property is a great hands-off cash flow positive investment.
With a current rental return of $730 per week and the potential of $850+ per week. (Minor conversion of existing shed to a sleep out. Builder's Quote of $3700 (incl. minor maintenance to existing roof)).
Located within 5mins of the city centre, Uni, Riccarton mall and AMI Stadium (great location for the rugby world cup 2011)
The property is currently managed through Christchurch Property Ltd, so ideal for out of town investors.
The property comes completely furnished in all living areas e.g. lounge, kitchen and bathrooms, all bedrooms are partially furnished. For a complete chattels list please contact me.
This is a great buy and hold for any investor, with high cash flow and the future benefits to develop the site (Build on 80% of site for high density L3 zoned land).
For more information please contact me on 0210735780.
Purchase Price: $317,500
Rental Income: $730/wk
Gross Yield: 11.65% Plus