Four flats, three lock-up sheds, Freehold Title, high income potential.
A rare opportunity to secure a versatile multi-unit block in central Nelson offering immediate income with big upside. Perfect for investors, renovators, or owner-operators seeking strong yield and long-term capital growth.
Property snapshot:
- Land & Buildings: Freehold title with four self-contained flats
Tenancies:
- Two top-floor units currently run as a boarding house ($1,100 p/w)
- One refurbished lower flat ($550 p/w)
- One lower flat needing light work ($550 p/w potential)
- Additional Income: Three secure sheds (one double and two singles) – ~$250 p/w potential
- Projected Gross Income: $2,450 p/w = $127,000 p.a. when fully tenanted
Investment highlights:
- Strong rental demand in central Nelson
- Multiple dwellings on one freehold title
- Renovations already underway – heavy lifting done
- Dual income streams (residential and storage)
- Low-maintenance construction
- Option to upgrade further or redevelop (STCA)
Location:
- Quiet, established street close to Nelson CBD, schools, hospital and transport. Excellent long-term growth fundamentals in a tightening rental market.
The upside:
- Finish the remaining light work and unlock around $125,000 annual income from this high-yield, multi-stream property. A solid, value-add investment in one of Nelson’s most promising growth areas.
Financials, floor plan and inspection reports available on request. Contact Paul today.
