Prime Block In Top Location
A great opportunity to purchase a large residential block of flats in such a top location. This block consists of six flats, each having two bedrooms and an office, large in size being two storied. Located on corner section, all on their own separate crosslease titles, on 1004m² RS land.
Construction is concrete block downstairs, and roughcast and timber cladding upstairs, iron roof with wooden and aluminium joinery.
These units are in tidy condition, downstairs each unit has an open plan kitchen, dining and living area with heat pump. Good indoor-outdoor flow via ranch sliders to private front courtyard and five have rear courtyards as well. Upstairs has two double bedrooms with wardrobes and an office. The bathrooms have a shower over bath, vanity and toilet. One unit has a separate shower. They all have their own carport space.
• 6 x 2 bedrooms and an office • 6 separate crosslease titles • 1004m2 of RS, TC1 land • Private courtyards at front and rear. • Each unit has a single carport. • Good holding income.
Good holding income of $2,010 per week = $104,520 per annum, with potential to increase rental return, some long-term tenants are in place. Area average market rental for Sockburn, 2 bedroom flat is upper quartile $370 per week, median quartile $355 per week and lower quartile $306 per week, as of 1st March 2021 - 31st August 2021 sourced from Tenancy Services.
Located in Sockburn, close to Church Corner, Upper Riccarton and Bush Inn Mall and only a short drive to Westfield Mall.
Don't delay your opportunity to secure this block, as they don't come up for sale in this prime location. Any investor would be happy to add this property to their portfolio.
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