128 Wellington Street

About this property

27 Year Investors Cash Out! This is an opportunity for proactive buyers to reposition weekly rental incomes to further enhance yield. All three flats are rented on a periodic basis to long - standing tenants who would very much like to stay. The recently obtained rental appraisal suggests that: Unit 1 may achieve between $510.00 - $530.00 per week. Unit 2 may achieve between $480.00 - $500.00 per week. Unit 3 may achieve between $510.00 - $530.00 per week. Of course, should a renovation be undertaken, these returns would soar! You work out the yield yourself on this Yield Calculator: https://www.opespartners.co.nz/calculators/rental-yield. So, do you: Landbank, and retain the existing tenants? Develop the site (subject to council approval, thanks to Mixed Housing URBAN Zoning) Renovate the existing dwelling, and build instant equity. This investment is the unique of unique - an opportunity that has stood the test of time, a block of three units on a Freehold Title consisting of 1024 m2 more or less. The multi - tenancies do provide diversification of risk while still offering further upside in yield with further improvements made to the properties. Make no mistake, my Vendor's instructions are extremely clear - they want this property SOLD on Auction Night! Be a shame to miss it!

Property features