Nestled within the heart of Upper Hutt, 3/46 King Street emerges as an enticing proposition for investors. This well-maintained unit, from the charming 1970s, presents an incredible opportunity to secure a foothold in the property market and expand your property portfolio.

The allure of this property is undeniable, featuring neutral interiors with the interior repainted in late 2024 and new carpet and vinyl flooring installed concurrently. The practical gallery kitchen is perfect for culinary exploits, while the family bathroom stands ready to cater to the daily routines. Two generously sized bedrooms ensure ample personal space, and the comfort of the efficient heat pump throughout all seasons.

Occupying a prime position, the unit comes with the added convenience of a dedicated off-street parking space, along with a handy tool shed for additional storage. The communal outdoor area offers a secure and pleasant space.

From an investment perspective, the location does the heavy lifting. Supermarkets, retail, cafés, and eateries are a short stroll away, and reliable bus/rail connections make car-light living easy. That everyday convenience broadens your tenant pool, drives strong enquiry, and helps reduce vacancy days-the kind of walkable setting renters actively seek out and stay for.

Currently tenanted at $525 per week, this delightful two-storey unit offers investors a seamless handover and income from settlement, with the sale proceeding subject to the existing tenancy agreement. It's a smart opportunity to secure a ready-made, cash-flow positive* investment in a sought-after, walkable location-ideal for those looking to add to or start a portfolio.

Body corporate fees are $240 per month (equivalent to $2,880 p.a.) and include building insurance, minor maintenance, and lawn care, making this not only a prudent investment but also an easy asset to manage.

For a slice of Upper Hutt charm, secure a viewing with 48 hours' notice and let this address be your next chapter in real estate success.

Key features

• Floor area 60 sqm (more or less)
• Heat pump
• Two double bedrooms
• Separate laundry
• Off-street parking

Disclaimer: Photographs of this property were taken in October 2024 and may not reflect its current presentation.

*Based on a sale price of $390,000 with a 20% deposit and an interest rate of 4.75% (currently available as of 18/09/2025) over 30 years, cash flow is calculated on a principal-and-interest (P&I) basis. Rental income is assumed at the current $525 per week for 50 weeks of the year, with the property owner-managed. Expenses factored in include rates of $3,379.17 per annum and body corporate fees of $2,880 per annum (paid monthly and covering property insurance and minor maintenance).