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St Albans, 465 Manchester Street

Jewel in Your Investment Crown


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Listing Number: BE192960
About this listing
Ok we know it's not pretty but this property could very well be the jewel in your investment crown. Currently divided into 10 separate tenancies and showing impressive returns with stable tenants, astute buyers will find plenty to get excited about here.

There are 10 bedrooms, 9 large doubles and a single, each with either built-in drawers or robes. The communal spaces are all generously sized and kept clean and tidy by a dedicated property manager. Three showers, four toilets and spacious living, dining and kitchen areas all add up to an ideal set up for anything from AirBnB, to a backpackers hostel, to the current mid to long term rentals. Pick your level of effort and set it up accordingly. Located far enough out of the CBD to be pleasant and safe, yet close enough to be within a 15-minute stroll of Hagley Park this is a great location for visitors to Christchurch and those who enjoy having the city life close at hand.

The exterior of the property is low maintenance and easy care with a small, grassed area, mostly hard paving and some established trees for an extra touch of green. There are areas both indoors and out for tenants to socialize if they wish and there is a single garage and some covered outdoor storage space. A laundry room in the house ensures that the occupants have everything they need for their stay, be it long or short term.

With the property manager already in place this is a passive income waiting to be collected, alternatively you could manage it yourself and watch as the profit increases. The next chapter looks exciting and only the new owner can decide how it will unfold.
NB: The property does not have a Code Compliance from the Christchurch City Council in relation to be run as a Boarding House. Potential purchasers are strongly advised to seek legal advice regarding this.

To Download Property Files please go to: http://www.propertyfiles.co.nz/property/BE192960
Please be aware that this information may have been sourced from REINZ/Property Smarts/Land Information New Zealand/ The relevant local authority/Cera and we have not been able to verify the accuracy of the same.
Property Information
  • Land Size: 655 sqm
  • Tenure: Freehold
  • Approx year built: 1920
  • Property condition: Good
  • Property Type: House, Block of units
  • House style: Character
  • Garaging / carparking: Single lock-up, Off street
  • Construction: Plaster
  • Joinery: Timber, Aluminium
  • Insulation: Ceiling
  • Flooring: Carpet
  • Window coverings: Drapes
  • Heating / Cooling: Heat pump, Other (Wall Heaters x 10)
  • Chattels remaining: Fixed floor coverings, Light fittings, Curtains, 2 x Stoves, Heat Pump, 3 x Fridge Freezers, 2 x Microwaves, 2 x Washing Machines, Dryer, Living Room Couch, Dining Table and Chairs, Samsung TV, 10 x Beds, 10 x Fixed Wall Mounted Heaters, 2 x Vacuum Cleaners
  • Kitchen: Modern, Upright stove and Microwave
  • Main bedroom: Double
  • Bedroom 2: Double
  • Bedroom 3: Double
  • Bedroom 4: Double
  • Bedroom 5: Double
  • Bedroom 6: Double
  • Bedroom 7: Double
  • Bedroom 8: Double
  • Bedroom 9: Double
  • Bedroom 10: Single
  • Laundry: Separate
  • Views: Urban
  • Outdoor living: Entertainment area, Clothes line
  • Fencing: Fully fenced
  • Land contour: Flat
  • Grounds: Tidy
  • Water heating: Electric
  • Water supply: Town supply
  • Sewerage: Mains
  • Locality: Close to transport, Close to shops, Close to schools

Contact Details


Grenadier Real Estate Ltd

Licensed REAA 2008

130 Colombo Street
Office website

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