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37 Albert Street, Palmerston North Surrounds, Palmerston North City

MULTI INCOME INVESTMENT WITH DEVELOPMENT POTENTIAL

dollar

Negotiation

Unit
Unit
Bedroom
9
Bathroom
5
Floor area
319m2
Land area
1012m2
Title type
Cross Lease
Covered park
2
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Property details

Listing # PN4542 | Listed on 1 October

This is an exceptional opportunity to secure a unique multi-income property in a prime central location.

With a total of 9 bedrooms. The main house at the front of the property consists of two units (1 bedroom at the front with a separate lounge and 2 bedrooms at the back) both tenanted. There's plenty of scope here - renovate, redevelop or reconfigure to maximise value.

Behind this is a solid block of three classic 1970s brick and aluminum 2 bedroom units. all tenanted, adding further income security. Each unit is Healthy Homes compliant. Together all the flats return a gross rental of $1,780 per week, providing strong holding income while you explore the future possibilities. Cross lease titles and combined Rateable Value as at 1 September 2024: $1,595,000

Centrally located, close to city amenities, transport and schools, this is an opportunity for investors, developers or land-bankers to secure a rare multi-income property in a growth area.

Limited viewings by registration and appointment.

TO BE SOLD AS ONE BLOCK

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Additional features

Style: House + 3 x Flats
Roofing: Tile Profile & Iron
Exterior Cladding: Weatherboard & Brick
Exterior Joinery: Wood & Aluminium

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