Prime Block In Top Location

Sockburn, 1-6/35 Craven Street

A great opportunity to purchase a large residential block of flats in such a top location. This block consists of six flats, each having two bedrooms and an office, large in size being two storied. Located on corner section, all on their own separate crosslease titles, on 1004m² RS land.

  • 6 x 2
  • 6
  • 0
  • Price by Negotiation

Property Information

  • Listing #S2109
  • Legal description Flat 1-6 DP 52818 over PT Lot 2 DP 6228
  • CT number CB31A/552-557
  • Land Area 1004m²
  • Floor Area 500m²
  • Land Zone TC1
  • Land Value $85,000 x 2 $80,000 x 4 $490,000 Total
  • Improvements $165,000 x 6 $990,000 Total
  • Capital Value $250,000 x 2 $245,000 x 4 $1,480,000 Total
  • Rates $1,877.13 p.a. x 2 $1,847.82 p.a. x 4 $11,145.54 p.a. Total
  • Parking Single carport for each flat
  • The above information has been supplied by either the vendor* or by outside agencies like CCC, LINZ, Property Guru, etc. Accordingly, Braziers is merely passing over this information as supplied to us. We cannot guarantee its accuracy and reliability as we have not checked, audited, or reviewed the information and all intending purchasers are advised to conduct their own due diligence investigation into this information. To the maximum extent permitted by law Braziers does not accept responsibility to any person for the accuracy or use of the information herein.

Construction is concrete block downstairs, and roughcast and timber cladding upstairs, iron roof with wooden and aluminium joinery.

These units are in tidy condition, downstairs each unit has an open plan kitchen, dining and living area with heat pump. Good indoor-outdoor flow via ranch sliders to private front courtyard and five have rear courtyards as well. Upstairs has two double bedrooms with wardrobes and an office. The bathrooms have a shower over bath, vanity and toilet. One unit has a separate shower. They all have their own carport space.

• 6 x 2 bedrooms and an office • 6 separate crosslease titles • 1004m2 of RS, TC1 land • Private courtyards at front and rear. • Each unit has a single carport. • Good holding income.

Good holding income of $2,010 per week = $104,520 per annum, with potential to increase rental return, some long-term tenants are in place. Area average market rental for Sockburn, 2 bedroom flat is upper quartile $370 per week, median quartile $355 per week and lower quartile $306 per week, as of 1st March 2021 - 31st August 2021 sourced from Tenancy Services.

Located in Sockburn, close to Church Corner, Upper Riccarton and Bush Inn Mall and only a short drive to Westfield Mall.

Don’t delay your opportunity to secure this block, as they don’t come up for sale in this prime location. Any investor would be happy to add this property to their portfolio.

To view, call Braziers on (03) 377 7122

  • Back

Email Rebecca Manawatu about 1-6/35 Craven Street

Email Neil McLaughlin about 1-6/35 Craven Street