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8 x 1 Bed Units - 1,487m2 Medium Density Zoned

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Contact me for further information or to view.
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Shane Carruthers
M:  021 182 6547
P:   09 215 6202
​E:   [email protected]

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Cashflow opportunity in Wellington with great income over over 7.0%. 

Hold for Cashflow, Land bank or Develop. ​

Price by Negotiation

• 1,487m2 Freehold Site Zoned Medium Density
• 8 x 60m2 1 Bedroom Units
• Current - 300pw x 8 = $2,400pw rental income ($124,800 pa)
• Renovated - 375pw x 8 = $3,000pw rental income ($156,000 pa)
• 7.0% Potential Gross Yield
• Development Potential
• Units could be individually Unit-Titled
• Add value with renovation of units to increase rental income and value - spend $15k per unit basic carpet, paint etc.

 Rental appraisal $156,000 pa / $3,000pw after renovation of Units 

Zoned Medium Density

Option 1:  Build 10 Townhouses - 6 x 102m2 and 4 x 188m2
Option 2:  Build 9 Townhouses - 4 x 135m2 and 5 x 208m2


HOMES estimate is $2,110,000 

Location:
Situated in a premium location right by Stokes Valley Mall with shopping, restaurants, chemist etc. Wellington CBD 30mins drive.

Please contact me if you’d like further info.

Shane Carruthers
021 182 6547 
[email protected]