49 Ilam Road, Upper Riccarton

Mature student investment

Offers over $850,000

This residential student rental offers the chance to own a premier investment in its class. You will be hard-pressed to find a student rental in a better location, with this type of income on offer.

As a whole, the six bedrooms offer ample living space and are complemented by two living rooms, heated by a heat pump and a gas fire. Internally, the home has retained its features, with three double bedrooms, an original kitchen and two full bathrooms. The three sleepouts provide the additional bedrooms with dry access through a covered walkway.

Currently rented for $960 per week on a fixed-term tenancy due to expire in November 2022, there is a new group of students moving in on a fixed-term contract to the end of November 2023 paying $990 per week. The home is also Healthy Homes compliant, meaning you can rest assured your tenants are provided with the best accommodation.

All earthquake repairs have been completed by the previous owner and the property is fully insured.

Sitting on one of the more popular roads for students to live and within walking distance of the University and Bush Inn. The large 678sqm section on solid TC1 land, currently zoned Residential Suburban, is also earmarked for rezoning to Residential Medium Density under the National Policy Statement on Urban Development.

With our vendors wanting to focus their efforts on their home and family, this is the perfect opportunity to add a proven investment to your portfolio.