Listed: Fri, 8 May

High Density – Generating $3,895 Weekly

49,49A,49B Matipo Street, Riccarton, Christchurch City, Canterbury

Price by negotiation

6+ Beds
6+ Baths
759m² Land

Attribute	Value
Property type	House
Capital value (CV)	$2,600,000
Agency reference	5530560
Broadband in the area	Fibre, ADSL, Cable, Satellite, VDSL, Wireless

Price by Negotiation

Private viewing by appointment – Please contact agents

Located in the highly sought-after rental suburb of Riccarton, this triple-income investment property presents an outstanding opportunity for switched-on investors. The property comprises three dwellings, two with six bedrooms and one with seven bedrooms, delivering strong, reliable rental returns with significant potential for future growth. Well suited to a buy-and-hold strategy, it also offers long-term subdivision and redevelopment potential.

Situated on an 759sqm (more or less) freehold site, the property is zoned TC2, High Density Residential, further enhancing its development appeal. Fully tenanted with fixed-term leases in place until late 2026, the property generates a combined rental income of $3,895 per week, equating to $202,540 per annum, ensuring immediate and consistent cash flow from day one.

19 bedrooms total
Combined rental income of $3,895 per week ($202,540 per annum) until late 2026
The vendor warrants that the properties will be leased at a total of $4,370 per week on three fixed term tenancies for the following student year
759sqm (more or less) freehold site with High Density Residential zoning
Planning report available outlining potential for two additional student accommodation dwellings
Fully compliant with Healthy Homes Standards
Off street car parking

Conveniently positioned close to the University of Canterbury and Westfield Mall, the property is highly attractive to university students and young professionals alike. The combination of strong holding income, future development potential, and a premium location makes this an exceptional opportunity for long-term land bankers or savvy investors.

Significant future upside is available, with a planning report outlining the potential to remove the front villa and develop two new student accommodation dwellings. Recent planning changes may allow for three new builds instead (subject to council consent). This creates a strong opportunity to increase rental income and enhance overall asset value, supporting both short-term returns and long-term capital growth.

To download the Property Files, copy and paste the following link into your browser: https://www.propertyfiles.co.nz/5530560

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Property Files

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Local Schools

IN ZONE wharenui school
Matipo Street
139 m
Full Primary (Primary & Intermediate), State, 456 enrolled
IN ZONE kahikatea kirkwood intermediate
260 Riccarton Road
985 m
Intermediate (Intermediate), State, 258 enrolled
IN ZONE christchurch boys' high school
71 Straven Road
1.2 km
Secondary (Year 9-13) (Secondary), State, 1420 enrolled

IN ZONE middleton grange school
30 Acacia Avenue
1.6 km
Composite (Year 1-13) (Primary, Intermediate & Secondary), State : Integrated, 1376 enrolled
IN ZONE christchurch girls' high school -te kura o hine waiora
10 Matai Street
1.7 km
Secondary (Year 9-13) (Secondary), State, 1306 enrolled
IN ZONE te puna wai o waipapa - hagley college
510 Hagley Avenue
2.2 km
Secondary (Year 9-13) (Secondary), State, 2120 enrolled
IN ZONE riccarton high school
31 Vicki Street
2.4 km
Secondary (Year 9-13) (Secondary), State, 1130 enrolled
IN ZONE villa maria college
21 Peer Street
2.4 km
Secondary (Year 7-13) (Intermediate & Secondary), State : Integrated, 824 enrolled
IN ZONE st thomas of canterbury college
69 Middlepark Road
3.2 km
Secondary (Year 7-13) (Intermediate & Secondary), State : Integrated, 703 enrolled
IN ZONE christchurch adventist school
15 Grants Road
4.2 km
Composite (Year 1-13) (Primary, Intermediate & Secondary), State : Integrated, 266 enrolled
UNZONED st teresa's school (riccarton)
10 Puriri Street
679 m
Full Primary (Primary & Intermediate), State : Integrated, 168 enrolled
UNZONED medbury preparatory school
109 Clyde Road
1.6 km
Full Primary (Primary & Intermediate), Private : Fully Registered, 395 enrolled
OUT OF ZONE ilam school
66 Ilam Road
1.6 km
Contributing (Primary), State, 400 enrolled
OUT OF ZONE sacred heart school (christchurch)
40 Spencer Street
1.8 km
Full Primary (Primary & Intermediate), State : Integrated, 180 enrolled
OUT OF ZONE tūora fendalton school
168 Clyde Road
2.1 km
Contributing (Primary), State, 417 enrolled
OUT OF ZONE hillmorton high school
Tankerville Road
2.5 km
Secondary (Year 7-13) (Intermediate & Secondary), State, 1404 enrolled
UNZONED rangi ruru girls' school
59 Hewitts Road
2.5 km
Secondary (Year 7-13) (Intermediate & Secondary), Private : Fully Registered, 701 enrolled
UNZONED christ's college
33 Rolleston Avenue
2.6 km
Secondary (Year 9-13) (Secondary), Private : Fully Registered, 730 enrolled
UNZONED st margaret's college
12 Winchester Street
2.8 km
Composite (Year 1-13) (Primary, Intermediate & Secondary), Private : Fully Registered, 847 enrolled

While we've done our best to correctly list schools in this location, school zone information may not be exact, so please double check with the school.