1-4/14 Sherborne Street, St Albans

Investment block of a lifetime

Auction (unless sold prior)
12pm Thurs 30 March 2022
3 Deans Ave, Riccarton, Christchurch

This two-storey, multi-income streaming block of flats is for sale for the first time this millenium. With four flats and all individually titled, an array of opportunities are on offer for the next prudent investor.

The property as a whole, has two x two-bedroom apartments in the back block, and two x one-bedroom apartments in the front block. Each unit is accompanied by a single garage meaning the all-important off-street parking is taken care of.

Built in the 1970s, the construction of concrete blocks ensures certainty for years to come. Combined with room to improve both the property and the rental income, this would be a great value-add opportunity for the keen investor.

Currently all flats are tenanted and bring in a total income of $1,320 per week with scope for improvement. Unit 3 will be vacant upon settlement giving the new owner the opportunity to improve the income and/or quality of offering through renovation. All EQC work was completed post-quake, and the property has Healthy Homes compliancy across all four apartments.

On 508sqm of TC2 zoned RMD land, the four titles are all cross-lease and available to be sold off individually.

Located on the edge of the inner city only four properties from Bealey Avenue, the apartments attract tenants due to its central location.

With our vendors looking to reinvest their gains into a business venture, this is the chance to take over the future growth and prospects this property has to offer to a new owner.