[SOLD] We Have Found Your Unicorn!

19 France Road, Bluff Hill, Napier - Offers Over $750,000

High yield AND fantastic location – Potential 7.6% gross yield over 4 legal flats in Bluff Hill, Napier.


Highlights:

Property Features: 1930's property converted into 4 flats

  • Price: Offers Over $750,000
  • Gross Yield: Potential 7.6%
  • Capital Value: $580,000
  • Rental Status: Unit 1 - $260 p/w
    Unit 2 - $270 p/w
    Unit 3 - $230 p/w
    Unit 4 - $190 p/w
    TOTAL - $950 p/w
  • Rent Appraisal: Unit 1 - $320 p/w
    Unit 2 - $300 p/w
    Unit 3 - $265 p/w
    Unit 4 - $205 p/w
    TOTAL - $1,090 p/w
    Written Appraisal available to potential purchasers.
  • Annual Rates: $6,027 p/a
  • Estate Type: Freehold
  • Floor Area: 160m2
  • Land Area: 878m2

Are we close?

If this property is not quite what you are looking for, contact the agent today to discuss finding a property directly for you.

About the Property

If you thought positive cash flow from the get go AND a blue chip central city location property was pretty impossible to find, well, we found one.

This property offers positive cash flow, no work to be done and a stunning location complete with good tenants happy to stay on.

Up for grabs is a high yielding multi-unit 1930's house in four flats set amongst the hills of a top central suburb in Napier.

The main house is divided into 3 flats, a 1 bedroom and two 2 bedrooms, all insulated and tenanted, plus a 1 bedroom minor dwelling at the back also insulated and tenanted. A shared laundry, and off-street parking for 5 cars (yes, that’s FIVE parks in Bluff Hill, not a typo) complete the picture.

The current tenants resident since 2015 and happy to stay on are currently paying $950 p/w with further potential to increase to the current market appraisal of $1,090 p/w. You work out what a centrally located multi income stream property in one of the fastest appreciating cities in NZ is worth to you, and bring your offer quickly.

Flat 1 – downstairs basement flat, 1 bedroom, lounge, kitchen, shower, toilet. Current rent $190 p/w, market rent $200-$210 p/w.

Flat 2 – upstairs 2 bedrooms, lounge, kitchen bathroom toilet. Current rent $260 p/w, market rent $320 p/w.

Flat 3 - upstairs 2 bedrooms, combined kitchen/lounge, bathroom toilet. Current rent $270 p/w, market rent $300 p/w.

Flat 4 – separate minor dwelling, one bedroom, kitchen, bathroom, toilet. Current rent $230 p/w, market rent $265 p/w.

All flats are in good condition and from what we can see no immediate maintenance required. Of course we recommend a building inspection to verify this.

There are some scheduled viewings. if you are interested in going through the property then please contact Lauren today to register your interest.

Amenities

About two minutes’ drive from the heart of the Napier CBD, the beaches, and everything this thriving art deco city has to offer and situated in an excellent leafy suburban Street, this property will be sought after by tenants and investors alike. Walking distance to Napier Girls School and two minutes drive to supermarkets, shops and CBD.

Lauren Worsley
Property Investment Specialist

lauren@ifindproperty.co.nz
021 847 333

Maree Tassell

Maree Tassell
Licensed Agent - REAA 2008

maree@ifindproperty.co.nz
027 486 6146

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This property is SOLD
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Agent Contact Details

Lauren Worsley
Property Investment Specialist

lauren@ifindproperty.co.nz
021 847 333

Maree Tassell

Maree Tassell
Licensed Agent - REAA 2008

maree@ifindproperty.co.nz
027 486 6146