Sun Feb 2 12:30-13:00
New
Auction (unless sold prior)
12pm, Thu 20 February 2025
3 Deans Avenue, Christchurch 8011
The former "Island Motel," once a beloved destination in the 1960s for locals and holiday makers seeking a venue for weddings, dining, dancing, and swimming, now presents a rare and exceptional investment opportunity. This property has been designed for discerning cashflow investors who are focused on maximizing returns. The complex comprises twelve residential units, including seven one-bedroom and five two-bedroom units, the original restaurant, reception, and dance hall sit vacant and almost in original condition waiting for a creative to recreate the space. Investors have the chance to secure this prime asset with what must be the highest return you will see in residential investment.
• Seven one-bedroom units and five two-bedroom units
• Original restaurant, reception, and dance hall sit vacant
• Generous off-street car parking spaces, catering to both tenants and guests
• Current income of $3,150 per week across twelve separate leases
• Totalling $163,000 per annum
• 2,130sqm (more or less) of land, providing ample space for future development or expansion opportunities
• Convenient proximity to popular local amenities, including Pines Beach, Kaiapoi Aquatic Centre, and a variety of shops and services
Designed with optimal rental income in mind, this property also holds considerable potential for future capital growth. It presents an outstanding opportunity for long-term investors seeking stability, with the added benefit of immediate cash flow generated from existing tenants.
The current owner is highly motivated and eager to see a successful sale at auction, creating a sense of urgency for those interested in securing this investment. Don't miss the opportunity to acquire this property and position yourself for future success in the dynamic Kaiapoi market.
To download the Property Files, copy and paste the below into a new browser: https://www.propertyfiles.co.nz/5526184
Address | Distance | Bed | Bath | Floor area | Sold date | Sold | Data source | |
|---|---|---|---|---|---|---|---|---|
 | 0.11 km | 3 | 1 | 70m2 | Year 2024 Month 10 Day 23 | - | Council approved | |
 | 1.28 km | 2 | 167m2 | Year 2024 Month 10 Day 17 | $450,000 | Council approved | ||
2.20 km | 0m2 | Year 2024 Month 10 Day 07 | $819,500 | Council approved | ||||
 | 1.32 km | 3 | 1 | -m2 | Year 2024 Month 08 Day 30 | - | Council approved | |
 | 0.20 km | 2 | 1 | 50m2 | Year 2024 Month 08 Day 21 | $395,000 | Council approved |