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3-5 North Road, Kaitaia, Far North

Tender

1,644m²

Super Investment Property - 8 Units Good Returns!

Unlock the potential of this prime investment opportunity!

This property features 7 units plus 1 x 3 bedroom home. The units comprise of 2 x two bedroom units, 2 x one bedroom and three studio units all fitted with heatpumps and extraction fans. Each unit has the provision for parking except the main dwelling that has access to the double lock up garage situated at the rear of the property. All rental units meet the Healthy Homes Standards.

All the units are tidy and are tenanted on a periodic basis with a current yield of over $150,000 per annum. Figures current from October 2024 less expenses and based on full occupancy. We are still experiencing a shortage of rental properties in Kaitaia.

The property has been well maintained with high occupancy rates and under strict property management with Ray White Kaitaia.

There is potential to add to the income stream by renovating the self contained unit attached to the main house.

Centrally located in Kaitaia close to local schools, supermarket and other amenities. Formerly a motel now utilised for transitional emergency housing. Currently zoned residential under the Kaitaia Operative District Plan.

This property is suitable for seasoned investors or those looking to start their real estate portfolio.

Don't miss out on this lucrative opportunity!

For Sale By Tender - Closing 29 November 2024 @ 4.00pm. (Unless Sold Prior).

Contact Diane Weaver today to arrange your appointment to view or request and Information Pack.

Additional details

Type

House

Property ID

KAA31011

Listed on

04/11/2024

Updated

yesterday

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Kaitaia, Far North

Kaitaia is a suburb which lies within the Territorial Authority of Far North, one of 59 residential suburbs which form the wider region. Kaitaia is the 2nd largest suburb of Far North in terms of the total number of residential housing stock. Kaitaia provides a range of housing stock, with the earliest residential housing recorded in the area constructed between 1890 - 1899. The majority of the residential housing stock in the locality was constructed between 1970 - 1979. Residential housing stock in Kaitaia is made up of approximately 77% residential housing , 2% residential investment housing and 20% lifestyle properties.

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