• Freehold residential site of 1392sqm (more or less) over two titles

• 10 two bedroom units

• Desirable location within walking distance to Palmerston North Hospital and amenities

• Fully tenanted

• Annual gross income $171,168

This property is an attractive offering for astute investors looking for a solid regular return. The property offers ten two bedroom units over two titles. The units (nine tastefully furnished and one unfurnished) are currently tenanted to a mix of health and other professionals. Each unit has an outdoor balcony with a good outlook, privacy and quiet. The location is superb and is set within a cul-de-sac across the road from Freyberg High and Ross Intermediate Schools.

Palmerston North is experiencing a buoyant economy and an ever-increasing shortage of accommodation. The large scale infrastructure projects currently being undertaken in the region are creating an increase in demand for rental accommodation. The owners have had the property for 25+ years and continue to have strong returns (up to 20%). There is real potential to add value here. Do not miss the opportunity to secure this property.

Property Details:

Land Area: 1393sqm (more or less) over two titles

Zoning: Residential

Carparking: 1 garage and 11 on-site carparks

Tenancy Details available upon request