A rare opportunity here to own an iconic Invercargill landmark with an attractive rental income (currently 92% occupied) and potential to add value.
The property comprises of 12 units: 2 x 2 bedrooms + study, 6 x 2 bedrooms and 4 x 1 bedrooms plus a number of onsite garages, situated on a significant 2740m2 (more or less) level site and covering massive 1120m2 (more or less) of building area.
Located at 334 Dee Street it is close to the CBD, restaurants, bars, schools, supermarkets and shopping.
All the units are in tidy condition with some having recently been updated. Heat pumps are installed in each unit.
This is a rarely available asset in a sought after area.
Invercargill is favourite amongst seasoned investors, here’s why:
• Highly resilient property market – featured as top NZ region for lowest value decline over past 18 months and again featured as top NZ region for growth in mid 2023 (source Realestate.co.nz).
• Impressive economic growth – constantly surpassing average NZ GDP growth.
• Lower cost of living – 24% less than national average (source Statistics NZ).
• Affordable entry point – for now, lower prices and higher yields to be had.
• Growing population and demand – 6.3% over last 5 years due to cost of living and a thriving economy (source Statistics NZ).
• Infrastructure and development – $180M city block upgrade, $65M museum upgrade, $50M data centre, multiple upmarket hotels (source ICC).
Be part of the success story while you can, contact Tina today for an info pack including current rental breakdown.
