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This large cash-flow, residential investment is primed for a new owner to takeover and complete immediate repairs to realise this property's full potential.
The main front house contains eight bedrooms, elegant oak-panelled living area, ornate ceilings in beautiful condition and a brick exterior have provides a solid foundation to the building. The two bathrooms however are in need of immediate attention and require a new owner to take action.
The rear dwelling is an older style weatherboard cottage containing three bedrooms and a bathroom that also requires attention.
The property is current tenanted with 10 occupants under one tenancy agreement for $1,500 per week, fixed to 8th January 2020, however, repairs are needed to the bathroom to reinstate the rental payments as the tenants are in current dispute.
The property has been priced with these required renovations in mind and a new owner will benefit with the hard work creating a diamond in the property portfolio.
11 bedrooms, 3 bathrooms over 2 dwellings on 1 title
Great location, close to city center
Potential to improve and grow returns
For a full Colliers Information Memorandum and additional property documentation, please go to www.colliers.co.nz/214744 and download from our "DATAROOM" button (on desktop version only, not mobile).
Viewings are by private appointment only with our Brokers.
Other investment options at www.colliers.co.nz/student-investment