With strong cashflow and a net return of 9.9% per annum, this exceptional investment property is located within easy walking distance of both the University of Canterbury and Westfield Riccarton and is comprised of two houses with a total of eleven bedrooms. The front house has five bedrooms, all complete with ensuite bathrooms and has been completely refitted with individual check meters for power usage, new gib and insulation throughout. The rear house was purpose built in 2011 to meet current regulations, with double glazing, full insulation and a total of six bedrooms all complete with ensuite bathrooms. Off-street parking is provided, with a total of twelve off-street carparks. The desirable location and quality of accommodation attracts a range of students and young professionals, which assists in keeping tenancy turnover low - a number of tenants have been in place for over twelve months. Each room is fully furnished with a bed, fridge and desk, with room rates ranging from $190 to $270 per week depending on whether they are a single/couple and also the duration of the tenancy agreement. Tenants pay for their own power usage within their rooms and overall power usage is kept to a minimum due to the installation of a heat pump hot water heating system in each house. Expenses as provided by the vendor are $9000p.a. for the front house and $10,000p.a. for the back house - this includes power, cleaning, insurance, bins, rates and broadband. A well set up, purpose designed investment property, established by an extremely experienced owner who has been in the business for many years.