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Riccarton

78 Wainui Street, Riccarton, Christchurch

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4 Bedrooms
1 Lounges
1 Bathrooms

Investment opportunity at entry level pricing


Auction  (unless sold prior)
12pm, Thu 27 March 2025
3 Deans Avenue, Christchurch 8011

This exceptional property presents a significant opportunity for generating substantial rental income with minimal effort. Ideally located just a short walk or drive from the University of Canterbury, it comprises two single-level dwellings. The main residence, built in the 1930s, includes three bedrooms, an office, a modernized kitchen, and a sun-filled living area equipped with a heat pump for comfort during the cooler months. Adjacent to the main house, the sleepout offers additional accommodation space.

• Main house comprising of three bedrooms, an office and one bathroom
• Sleepout on site
• Zoned for Residential Suburban Density Transition
• Currently leased at $680 per week until November 2025
• Fully compliant with Healthy Homes standards
• Zoned for CBHS, CGHS and Riccarton High
• Prime location close to the University of Canterbury

Situated near Westfield Mall and the University of Canterbury, this property is well-positioned to attract a diverse range of tenants. Its proximity to essential amenities and prestigious educational institutions ensures a steady demand for rental accommodation, minimizing vacancy periods and maximizing rental income.

The current owner is exiting the residential investment market, offering a rare opportunity to acquire a valuable asset in Upper Riccarton with strong future growth potential. Don't miss the chance to secure this promising investment on or before auction day.

To download the Property Files, copy and paste the below into a new browser: https://www.propertyfiles.co.nz/5526503

Auction
(unless sold prior)

3 Deans Avenue, Chch

27
Mar

Time12pm
Calander
Calendar
Angela Webb

Angela Webb

Residential, Investment and Development Sales

Whalan and Partners Ltd, Bayleys,
Licensed under the REA Act 2008
Grace Bruere

Grace Bruere

Residential and Investment Sales

Whalan and Partners Ltd, Bayleys,
Licensed under the REA Act 2008

Viewing details

16
Mar
Open home
Time
10-10.30am
Calander
Calendar
19
Mar
Open home
Time
11.30-12pm
Calander
Calendar
23
Mar
Open home
Time
12.30-1pm
Calander
Calendar

Features

Location


Situated just a short walk or drive from the University of Canterbury and Westfield Mall

Investment


Fixed-term tenancy agreement in place until November 2025, generating a guaranteed cash flow of $680 per week

Zoning


Residential Suburban Density Transition zoned land

Layout


Spacious layout comprising of three double bedrooms

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