[SOLD] 9%+ Potential Yield in Whanganui
60C Mosston Road, Castlecliff, Whanganui - $139,750
Spacious unit returning 8% with potential to achieve 9.3% GY. This unit backs on the Titoki St units also for sale which similarly are high yielding.
About the Property
This spacious art deco type unit has been tastefully decorated in neutral colours.
It has an open plan style kitchen and living area which is north facing.
Stucco cladding, wooden windows (these need some maintenance)
Updated bathroom and floorings. Separate laundry off bathroom.
Off street parking in front of the unit.
We have been advised by the vendor that this property is fully insulated top and bottom - we would also recommend this be checked as part of due diligence.
This unit is adjoined to another similar unit (which is not currently for sale). It also backs onto 13a and 13b Titoki St which are also on the market, and there is a carport which is accessed via Titoki St.
Situated just a 7 minute drive from the central city, this seaside community has experienced a sharp increase in property activity driven by both first home buyers and investors to the area.
Castlecliff is serviced with a great café and central hub around Rangiora St and down to the beach that has been revitalised by the Progress Castlecliff committee. A new 34ha subdivision has been approved on the outskirts of Castlecliff but won’t be available for up to seven years.
In February 2018, Regional Economic Development Minister Shane Jones announced $6 million from government's Provincial Growth Fund would go towards the revitalisation of the Whanganui Port and an upgrade of the Whanganui rail line. Both are based in Castlecliff.
Further development of the Mosston Rd area is being completed with the sealing of Mill Rd accessing commercial sites. The Fitzherbert extension, due to be started this financial year, will provide additional easy access to the Castlecliff area. The medical centre on Mill Rd is just a few years old.
Licensed Agent - REAA 2008
027 486 6146