Stu Fleming and Lyndsey Elliott - Ray White Real Estate
Real Estate Agents
Stu Fleming and Lyndsey Elliott - Ray White Real Estate
188A Broadway Avenue
Palmerston North 4410
Palmerston North 4410
Ray White Palmerston North
188A Broadway Avenue
Palmerston North 4410
Palmerston North 4410
- Listing #:
- PNO31295
- Listed:
- 52 days ago
Price By Negotiation
Top Drawer Investment
14, 16, 18 Freyberg Street, Roslyn, Palmerston NorthOther
-
- 21 Bedrooms
-
- 12 Bathrooms
-
- 3 Car Garages
About this property
The current owner has owned the property (14, 16 & 18 Freyberg Street) between 2 (18) and 29 (14 & 16) years. During this tenure, they have turned very sound "plain" buildings into 12 very desirable apartment style residences largely occupied by long term stay medical professionals who enjoy the well cared for, peaceful and private environment.An excellent environment producing a high end, stable income, this is an exciting opportunity.
Don't miss it - call Stu on 027 444 1594
Viewing by appointment only.
14A & B Background:
Originally built in 1915 it was named Clayfields Cottage as was the residence of the manager for the Hoffman Kiln Brickworks (Featherston Street).
The current owner has since their ownership, turned this lovely "character" home into a one bedroom (adjacent carpark) and a large two bedroom (small house) at the rear with a lovely sunny, private backyard. The two bedroom residence is the only residence that is not furnished.
(1-8)/16 Freyberg - Roslyn Residences
Background:
When purchased by the current owner in 1996 this exceptionally "solid" block of flats was a bit of a "plain Jane." With many upgrades and renovations since, this "Residential Purpose Built Flats" built in 1950 have morphed into a very special environment where quiet privacy and space is enjoyed by the occupying tenants.
The high quality, fully furnished residences are home to long-term stay medical professional who enjoy the locality and it's easy access to their place of work.
Due to the exceptional standard of living this environment provides, vacancies are rare, making income very stable.
18A & B Freyberg Street
Bought and completely renovated from a sound but "tired" home into two upmarket and beautifully presented one bedroom residences with fabulous views over the expansive Freyberg High School grounds.
With No.18 there is an exciting twist!! At the rear and separate from the front house.... a large 8x8m double garage with an excellent "room" above. This "room" has served as a workshop, storage, smoko room for the management/maintenance team but would remain as is or become a lovely apartment....potential.
Income: At A Glance
14 Freyberg Street
14A - $490
14B - $520
16 Freyberg Street
1/16 - $540
2/16 - $540
3/16 - $520
4/16 - $520
5/16 - $540
6/16 - $540
7/16 - $540
8/16 - $540
18 Freyberg Street
18A - $540
18B - $560
Total: $6,390 x 52
$332,280 per annum
Expenses:
Rates - $28,520pa
Insurance - $20,200pa
R/M ($1,000 per unit per year) - $12,000pa
Total: $60,720pa
Nett Income: $271,560 per annum
For further information, please visit: rwpalmerstonnorth.co.nz...
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