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334 Dee Street, Avenal, Invercargill City

$2,400,000

1,120m²

2,743m²

Investors, this 12 unit block is for you!

A rare opportunity here to own an iconic Invercargill landmark with a considerable income.

The property comprises of 12 units: 2 x 3 bedrooms, 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.

Additional details

Type

House

Property ID

L30158249

Listed on

20/08/2024

Updated

8 days ago

Data

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OneRoof estimateRating valuationProperty history

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Property data

Broadband available

Floor area

1,120m²

Land area

2,743m²

Type of title

Freehold

About the area

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Time (yrs)

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Avenal, Invercargill City

Avenal is a suburb which lies within the Territorial Authority of Invercargill, one of 36 residential suburbs which form the wider region. Avenal is the 17th largest suburb of Invercargill in terms of the total number of residential housing stock. Avenal provides a range of housing stock, with the earliest residential housing recorded in the area constructed between 1900 - 1909. The majority of the residential housing stock in the locality was constructed between 1930 - 1939. Residential housing stock in Avenal is made up of approximately 94% residential housing and 6% residential investment housing properties.

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