Description
Two Income Streams | Fixed-Term Tenancies | 6.74% Gross Rental Yield
Priced at $660,000, this is an excellent opportunity for investors seeking strong rental returns in one of Christchurch's most established and sought-after rental locations.
Located in the heart of Riccarton, close to the University of Canterbury, Westfield Riccarton, and major shopping and employment hubs, this property offers an attractive combination of immediate cash flow, strong tenant demand, and long-term capital growth potential.
This character villa has been converted into two separate, consented flats, providing investors with two independent income streams from one property. Both flats are Healthy Homes compliant, with each flat benefiting from its own detached single garage and off-street parking.
Investment Highlights
Asking Price: $660,000
Flat 1: $460 per week – fixed-term tenancy
Flat 2: $395 per week – fixed-term tenancy with a very long-term, reliable tenant
Combined Rental Income: $855 per week
Annual Rental Income: $44,460
Gross Rental Yield: 6.74%
Two separate, consented flats
Healthy Homes compliant
Each flat has its own detached single garage and off-Street parking
Established rental history
A Prime Location for Rental Demand and Capital Growth
Riccarton has long been recognised as one of Christchurch's key residential and investment locations, supported by its proximity to the University of Canterbury, Christchurch CBD, major employment hubs and extensive retail amenities.
As Christchurch continues to grow, established central suburbs such as Riccarton remain attractive to investors seeking long-term capital appreciation. With limited opportunities to create additional land in these well-established locations, properties offering both income and underlying land value can provide an appealing long-term investment strategy.
Riccarton's ongoing popularity with students, professionals and families also supports a broad tenant pool and future resale appeal.
Nearby amenities include Westfield Riccarton, Tower Junction, Bush Inn Centre, Church Corner and excellent transport connections. The property is also zoned for Christchurch Boys' and Girls' High Schools.
An Investment That Works From Day One
With both fixed-term tenancies already in place, investors can benefit from established rental income from settlement without the immediate hassle of sourcing tenants.
Adding to the appeal, Flat 2 has been occupied by a reliable, long-term tenant, providing reassurance through an established tenancy and proven rental history.
The additional convenience of individual garaging and off-street parking for both flats further enhances tenant appeal in this popular central Christchurch location.
The current owners have carefully maintained this property over the years and enjoyed consistent rental returns. Now, with clear instructions to sell, the opportunity is available for another investor to secure this established income-producing asset.
For investors looking beyond rental yield alone, this property offers immediate rental income, a proven rental location, and potential long-term capital growth in one of Christchurch's most established suburbs.
Two rental incomes. 6.74% gross yield. Prime Riccarton location.
Enquire today to find out more about this investment opportunity.