Auction (unless sold prior)

12pm, Thu 1 May 2025

3 Deans Avenue, Christchurch 8011

Presenting a distinctive property offering not just a home, but a remarkable opportunity for multiple income streams. Situated on a generous 697sqm (more or less) of land, this investment promises both immediate rental returns and future land-banking potential.

The residence spans 177sqm (more or less) and has been thoughtfully divided into three separate flats, enhancing versatility and maximizing investment returns. Flat 1 consists of two bedrooms, one bathroom, and an open-plan kitchen and living area, and is currently vacant. Flats 2 and 3 each offer one bedroom and one bathroom, both occupied under periodic and fixed-term tenancies.

• Rental appraisals indicate potential weekly earnings of up to $1,240.00 per week

• Current rental income is $640 per week from periodic and fixed-term tenancies

• Configuration: 1 x 2-bedroom flat and 2 x 1-bedroom flats

• Land area: 697sqm (more or less) of freehold land

With rental appraisals suggesting the potential for higher returns, this property is poised to deliver a strong positive cash flow.

The location is highly desirable, appealing to both tenants and owner-occupiers alike, due to its proximity to The Palms Shopping Centre, Richmond Park, and the Avon Hub Sports Centre. This is an exceptional opportunity to establish your presence in the property market. The vendor, motivated by a portfolio downsizing, is committed to seeing this property sold on or before auction day. Don't miss the chance to secure a property with both strong land value and consistent cash flow.

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