76 Sawyers Arms Road, Papanui
Cash flow property
With one tenancy in place returning $1,700 per week creating a 7.5% gross yield, this property gives great cashflow and has been fully refurbished making it ideal for a buy and hold prospect. A resource consent issued by Christchurch City Council is in place to allow for 12 tenants to occupy at a time. Sited on 923sqm of Residential Suburban Density Transition land suitable for long term townhouse development allows for future land growth and cash flow all in one package.
The home is fully upgraded to a high standard with new furnishings throughout, the kitchen and bathrooms allow for multiple users at once and ensure it is comfortable for all 12 tenants. There are nine bedrooms within the house, four on the second floor and five bedrooms on the ground floor and three additional bedrooms within a purpose-built sleepout which also houses an additional toilet, shower and kitchenette.
Being meters from Northlands Mall with great shopping and dining options and close to the Graham Cordon Recreation and Sport Centre. A new Pak’nSave is being built on Main North Road, Marion College is relocating to this area and a large build project taking place with scheduled completion for 2023.
– 12 bedrooms
– Resource consent for 12 people
– Three bathrooms
– Double garage
– 923sqm of RSDT land
– Fully furnished
– Signed tenancy at $1,700 per week rental income
– Tenants moving in late May
– Off-street parking
With tenants moving in late May, it is a great opportunity to view while it is vacant and then settle once the cash flow starts. You don’t often get 7% returns, with interest rates sub 3% it could potentially be putting cash into your pocket each week.
PROPERTY INVESTMENT SPECIALIST
Licensed under the REA Act 2008
Mobile: +64 27 349 1997
Office: +64 3 375 4700