421 Worcester Street LINWOOD, Christchurch City

3 Units on one title
8 Bedrooms plus studio
Currently tenanted and returning $1015 per week

What an opportunity ... three units on one title currently returning an attractive $1015 per week and within easy walking distance of the proposed new covered stadium and the green edge of Christchurch's new CBD, astute buyers will be quick to see the potential here! Demand for rental properties is already out stripping supply and the rebuild has barely begun. Whether you are an investor looking to increase your portfolio, a company looking for an accommodation complex for staff, or a landlord looking for the jewel in the crown, this block of three units are a must to view.
Comfortably accommodating up to 16+ people in all, the properties are fully tenanted on periodic tenancies and it is showing very strong returns. At the front is a stand-alone three bedroom unit with a separate studio, plus two single garages and one other off-street carpark. There is a huge open plan living and dining area with the kitchen adjoining. High vaulted ceilings and solid practical design add to the spacious feel. Both the bathroom and laundry are generously proportioned and finished to be hard wearing and practical. The exterior is well presented with the use of stained timber and white concrete block giving it modern feel that will not date.
On the rear of the property are two further units. The first has three bedrooms and a single garage and the second has two bedrooms and a single garage. Both have very durable bathroom/laundry fit-outs and full sized baths with shower above. Some updating work has been completed with fresh paintwork done by the current owners and new floor coverings in some areas.
Sitting on 969m2 of Green Zone TC2 land, on a single title, there was only minimal cosmetic EQ damage identified here and all properties have EQC claims in place. With our owners liquidating their portfolio due to other focuses there is no questioning the motivation to sell here and hence this is truly an opportunity for the astute and those in the know will act quickly to avoid disappointment!

Auction: 6:30pm, Thursday 17th October 2013, Ray White Auction Rooms, Northwood Supa Centa (Unless Sold Prior)