PRIME INVESTMENT PROPERTY

Sold - Melrose Wellington

This 3-flat investment property in Wellington on a large piece of land offers an attractive opportunity for home and income buyers or investors, with each unit generating impressive rental returns. The outside of this property has been recently painted and boasts a large backyard, offering the potential for further development. There is a garage and an off street carpark with details of each unit as follows:

Unit A:
• Three bedrooms
• Separate lounge
• Large bathroom
• Whiteware included
• Generates $720pw in rent (from 2/24)

Unit B:
• Two bedrooms plus a study
• Large lounge
• Dine-in kitchen
• Whiteware included
• Generates $630pw in rent

Unit C:
• Large bedroom
• Open plan living area with French doors opening onto a deck area
• Generate $500pw in rent

• Garage at street level rented for $50 per week

With a total rental income of $98,800pa and rates $7,126.00pa, this investment property offers an excellent return on investment. It is situated in a desirable suburb close to a range of amenities, including Kilbirnie shops, the Aquatic Center, ASB, the Library, numerous cafes, and the beach. The location is highly sought after by tenants, ensuring a consistent demand for rental accommodation in the area.