A charming 1930's character home, located in Kelburn on the city fringe, presents a rare opportunity for investors and those seeking a Home & Income opportunity.

Located in a peaceful area, with amazing views over The Terrace and a short walk to the CBD, cafes, restaurants, shops, university and Botanic Gardens, it is a smart investment.

With two separate, self-contained flats, each with two bedrooms and one bathroom, simply live in one flat, and rent out the other.

Such a lovely home would also serve well as an investor's city pied-a-terre, given its enviable location.

Included on the title is ownership of the four garages directly underneath the house. These garages are currently rented out at $50-60 per week. You'll also enjoy 195 m2 land area, which includes an attractive patio.

As a former stand-alone, two-storey home buyers could consider the possibility of re-joining the two flats to create a four-bedroom family home. Buyers will need to seek professional advice regarding whether that type of work is practically possible and the building costs involved.

The vendors have put plenty of work into the property. Externally, the house was repainted to a high standard in 2018. The kitchen and bathrooms in each flat have been refreshed too. The four garages have all had new roller doors recently installed.

A recent rental appraisal indicates a likely total rental return of $1,240 per week for the two flats, providing a possible annual gross return of $64,480.

In addition, the four garages currently generate a return of $220 per week, adding an extra $11,440 of income annually.

A LIM Report is available for all buyers.

The deadline for submitting offers is 12pm, Wednesday 30 June.

For more information, please call Rory Milne on 0226907500 or rory.milne@tallpoppy.co.nz or Paul and Sabine Chong on 0224103983 or paul.sabine@tallpoppy.co.nz