48 Hoon Hay Road

Multiple incomes, one strategic investment

Auction (unless sold prior)
From 11am, Thu 10 Sep 2026
3 Deans Avenue, Chch

Calling investors, developers and astute owner-occupiers - this is an opportunity worth serious consideration.
Offering an appealing combination of multiple rental incomes, strong underlying land value and future development potential, this substantial 672sqm (more or less) parcel of Medium Density zoned land presents a compelling proposition for those looking to strengthen their property portfolio.

The approximately 180sqm house has been thoughtfully configured into three self-contained one-bedroom flats on one title, each with its own kitchen, bathroom, living area and dedicated carport. This configuration provides flexibility and diversification across three income streams, while the generous landholding adds an important layer of long-term value.
• Flat 1 features a bedroom, kitchen, spacious and sunny living area with heat pump, bathroom and adjoining laundry facilities. The single carport is a bonus
• Flat 2 provides a bedroom, kitchen and generous, sun-filled living area with heat pump, together with a modern bathroom and separate laundry facilities. A single carport is also on offer here
• Flat 3 comprises a bedroom, tidy kitchen and spacious living area with heat pump, plus a bathroom with separate toilet and laundry facilities. A single carport and additional off-street parking are also provided
Currently returning $710.00 per week from long-term periodic tenancies, rental appraisals indicate potential income of up to $1,170.00 per week, providing scope to improve the property's income performance.

Beyond the immediate rental returns, the 672sqm (more or less) Medium Density zoned landholding provides an attractive proposition for developers and land bankers alike. Whether your strategy is to continue generating income while holding the land for future development, or to explore its longer-term development potential, this property offers flexibility rarely found in such a well-established investment.

The vendors are undertaking a portfolio reduction and committed to selling on or before auction day. Properties offering this blend of multiple income streams and substantial Medium Density zoned land are increasingly difficult to find.

To download the information pack for this property, please copy the below link into your web browser: https://new.propertyfiles.co.nz/listing/153