Rare Opportunity in an Exceptional area of Christchurch providing an easy 7.3% GY

21 Hanrahan Street, Ilam/Upper Riccarton, Christchurch - Asking $895,000

Rare Opportunity in an Exceptional area of Christchurch providing an easy 7.3% GY + $55,000 equity!


Highlights:

Property Features: 8 Br / 3 Ba

  • Price: Asking $895,000
  • Gross Yield: 7.3%
  • Capital Value: $650,000
  • Registered Value: $945,000 (available on request)
  • Equity: From $55,000
  • Rental Status: $1,260 p/w
    (Studio $210 + 5 bedroom home and sleep out $1,050)
  • Rent Appraisal: Potential $1,270 p/w.
  • Annual Rates: $3,620
  • Estate Type: Freehold
  • Floor Area: 170m2 plus studio
  • Land Area: 966m2

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Additional Information

The current owners have put all the hard work and thought into perfectly tailoring this property to cater for the high demand of students requiring accommodation near Canterbury University. After reaping the rewards of consistent reliable tenancy along with cashflow for the previous 8 years our vendors are now ready to pass this prime opportunity on.

Located in a desirable area of Christchurch, this large home and studio has been meticulously maintained inside and out.

The main home is weatherboard and iron built solidly in the 1950s. Inside is a mixture of polished timber flooring and carpet. All 5 bedrooms are of a generous size and include wardrobes. The two sleep out bedrooms are huge, with a covered entrance to the house, double glazed ranch sliders and insulation making them nice and cosy for the winter months. To rear of the sleep out is a large lock up storage shed.

The kitchen is well laid out with plenty of bench space and storage. The living/dining room is open plan with the kitchen and also opens out to an inviting patio and sunny backyard.

The laundry is separate, there are two good sized bathrooms and toilets, one inlcudes a bath and shower with the toilet being separate.

The studio is self contained including one large bedroom/living room, separate bathroom and kitchenette. The kitchenette has under bench washing machine and refrigerator. The living room opens onto a nice little tiled back yard and has its own storage shed.

Tucked down a driveway this property is private and secure with plenty of off street parking available.

All EQC works have been completed and signed off so no worries there. There is a fixed term of 12 months tenancy on the main home along with a fixed term 12 month tenancy on the studio, this pattern generally rolls over every year.

Viewing by appointment only.

Amenities

University of Canterbury - 10 min Walk - 900m

Riccarton Westfields Mall - 4 min drive - 1.9km

Bush Inn Shopping centre host to cafes, bars, doctors, countdown supermarket and much more - 7 min walk - 550m

Christchurch Boys High School - 5 min drive - 2.9km

International Airport - 10 min drive - 6km

Chch CBD / Hagley Park / Botanical Gardens approximately 5km.

Maxine Clason-Thomas
Licensed Salesperson - REAA 2008

maxine@ifindproperty.co.nz
021 990 252

Contact us about this property

Agent Contact Details

Maxine Clason-Thomas
Licensed Salesperson - REAA 2008

maxine@ifindproperty.co.nz
021 990 252

I used Maxine to buy an apartment while overseas, she was very quick to reply to all my questions. Working with her made the whole process go a lot smoother. She understands the struggles of buying Property while overseas so she helped me out in anyway she could. I would highly recommend her.

Moemen Elbeltagi

Maxine persevered with us investigating many properties in a very challenging market, before completing a successful purchase.

We were very pleased with her determination to find the right deal for us, in particular as we are out of NZ, and need to rely heavily on local knowledge and advice.

John & Penny

It has been a pleasure to work with Maxine on this purchase. I found her to be personable, responsive, intelligent & experienced, very helpful and available.