Multi-Income Inner-City Gem

Description

With interest rates appearing to peak, here is your opportunity to secure a multi-income property close to Wellington city and Victoria University.

This property is located at the end of a private RoW so very quiet being so close to the city, and features 2x5 bedroom flats, .

Currently rented to Victoria university students until Feb 2025 there is always demand for these 2 flats from both university students and young city professionals.

Both flats consist of 5 bedrooms and 1 bathroom each and are both currently rented at $1,365 per week ($265 per room equivalent).

This provides and annual gross rent of a healthy $138,840, and with interest rates expected to come down at the end of the year, and 80% tax deduction for mortgages, the future looks bright.

Both flats are fully certified Healthy Home compliant. The heating is provided by way of a heatpump and a showerdome is installed in the bathrooms.

The purchase price is $1,780,000 for this substantial property in a prime location just off The Terrace, 10 minutes walk to the University or to Wellington city.

Contact Peter today for more information or too arrange a viewing.

PROPERTY DETAILS
  • Bedrooms: 2x5
  • Bathrooms: 2
  • Car parking: 0
  • Floor area: 200m2
  • Land area: 194m2
  • Estate type: Freehold
  • Rental status: $1,325 + $1,325 pw
  • Rates: $6,186.14
LOCATION
  • $1,780,000
  • Gross yield: 7.8%
  • Annual rates: $6,186.14
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ABOUT THE AGENT

Peter Ambrose

Licensed Salesperson
REAA 2008