Cashflow Sitting in a Desirable Suburb

Wairakei Road, Burnside, Christchurch - $455,000

Great cash flow located on TC1 land in a desirable part of Christchurch 8% Gross Yield.


Highlights:

Property Features: 5 Bedrooms

  • Price: $455,000
  • Gross Yield: 8%
  • Capital Value: $415,000
  • Rental Status: $700 p/w - fixed term through to July 2019
  • Annual Rates: $2,242
  • Estate Type: Crosslease (Freehold)
  • Floor Area: 140m2
  • Land Area: 1/2 share of 911m2

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About the Property

Those looking for a solid investment including furniture and fixed term tenants in place, this property is for you!

The 5 bedroom home was solidly constructed in the 1950s, consisting of a separate lounge with heat pump and an open style kitchen and dining room. The main bathroom has been updated and there is an extra separate shower in the combined laundry. The property is tidily presented however still leaves room to modernise further potentially increasing it's value in due course.

Recent improvements include new spouting, freshly painted kitchen cupboards, new bathroom vanity and wall lining. All EQC repairs completed, ceiling insulation has been installed approx 1 month ago.

One option worth exploring (subject to council approval) would be to look into freeholding the cross lease giving it its' own fee simple title on a roughly 450m2 site.

Being located in such a convenient location, Burnside is popular with professional couples and families and generally offers quality tenancies. With many homeowners living in Burnside and the surrounding areas means the street appeal and surrounding areas are nicely kept and displays many house proud owners.

Amenities

Zoned for Burnside High School - 3 min drive

Northlands Shopping Mall - 6 min drive

Papanui - 5 min drive

University of Canterbury - 6 min drive

Chch Airport - 6 min drive

Rates 348 Wairakei Rd Burnside.pdf

iFindProperty Maxine Clason-Thomas

Maxine Clason-Thomas
Licensed Salesperson - REAA 2008

maxine@ifindproperty.co.nz
021 990 252

Contact us about this property

Agent Contact Details

iFindProperty Maxine Clason-Thomas

Maxine Clason-Thomas
Licensed Salesperson - REAA 2008

maxine@ifindproperty.co.nz
021 990 252

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As fate would have it, I signed the Sales and Purchase agreement on the day I flew overseas for two weeks. With an eight-hour time difference, working through due diligence could have been a challenge; could have been if it wasn’t for the tireless support I received from Maxine.

She provided updates, recommendations and was always available to meet people on-site during due diligence.

Thank you Maxine, and iFindProperty for making our recent purchase possible.

Barry Deed

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.