[SOLD] Affordable with Potential 8.2% Gross Yield

8/246 Stanmore Road, Richmond, Christchurch - $190,000

Affordable, cashflow property provides a great entry opportunity into the Christchurch market. The work has been done, which makes this a great set & forget investment.

The location is well positioned on the edge of the city centre where tenants benefit from all the inner city redevelopment and the property manager reports that there are great tenants currently in place.


Property Features: 2 Double Bedroom sunny unit with HRV & Heatpump

  • Price: $190,000
  • Gross Yield: Potential 8.2% (currently 7.7%)
  • Rental Status: $280 p/w Fixed Term until April 10, 2020
  • Rent Appraisal: $280 - $300 p/w
  • Written rental appraisal available to potential purchasers
  • Annual Rates: $1,250
  • Estate Type: Crosslease (Freehold)
  • Floor Area: 60m2
  • Land Area: 1/8 share in 1071m2

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About the Property

This tidy two bedroom unit is in the heart of the Richmond Village. The updated kitchen and bathroom, tidy carpet and neutral décor make this unit appealing and easy to rent at this price range. All the drapes and blinds have been replaced along with the installation of a new HRV system. Cosy and dry, the property is on the second level and receives good sun. The updated kitchen opens into a dining/living area, and the unit boasts a good sized bathroom as well as two well proportioned bedrooms. The washing machine, stand alone stove and dishwasher are all included with the kitchen. The property also includes a separate single carport behind the units.

The unit is one of eight concrete block units, positioned on the second level, with a tiled roof and has been insulated to meet tenancy requirements. It is set well back from the road, down a driveway overlooking the hustle and bustle of Richmond Village.

The property is fully insured and all earthquake repair work has been completed. Our vendors have left future owners a high yield potential with their bottom line asking price of $190,000. The affordable rent fits the market perfectly as Christchurch has few properties at this price to meet the demand.

Recent Sales of Similar Properties

9/31 Draper Street, Richmond - $220,000

53/33 Trent Street, Linwood - $252,000

4/33 Trent Street, Linwood - $245,000

Contact me today to find out more about this fantastic opportunity.


Richmond Village has great amenities including the New World Supermarket, post office, restaurants, retail shopping, community centre, and the proximity to the river park and inner city is ideal.

Richmond Village is approx 2.8km's to the central city and is approx 2.3km's to the Eastern Frame that is forming part of the new inner city development.

The Richmond Village Green holds events such as The Original Gypsy Fair – Est'd 1990.

Persephone Singfield
Licensed Salesperson REAA 2008

021 468 554

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This property is SOLD
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Agent Contact Details

Persephone Singfield
Licensed Salesperson REAA 2008

021 468 554

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