Description

This property offers a unique opportunity for an astute investor wanting to diversify into Queenstown.

Being just under 1,000 sqm of highly sought after land, this sunny rear and private section allows for plenty of opportunities to add further value. With stunning views and a north facing elevated building platform, the property basks in all day sun and natural light.

Completed in 2015 this brick and weatherboard property is low maintenance, offering plenty of off-street parking and purpose built to provide good rental income whilst also appealing to home owners to maximise resale value. This cleverly designed home and income allows for multiple configurations with its triple entry foyer. 3 x Heatpumps, gas hot water and cooking, double glazing throughout, and above standard insulation makes for an energy efficient rental.

There is a severe rental shortage in Queenstown due to it having the fastest population growth in New Zealand with an 8% increase over the last 12 months and as such rents are increasing rapidly. Understandably, both tenants wish to stay on however there is room to increase the rent for the unit from $600pw to $720pw. This will bring the total rent to $1670pw.

We have the council files and a LIM available to assist you with your due diligence.

POTENTIAL (subject to council consent)

• Add a cabin or sleep out to the rear of the property.

• Put a tiny home on the rear (or lease the land to an owner of a tiny home).

• Add a garage with further accommodation.

• AirBNB part or all of the property.

Or simply hang onto the property and capitalise on the rent and property value increases that come with owning a property in New Zealands most sought after area.