Location and yield align at 1-4/19 High Street. This offering features a fully consolidated residential block of four self-contained flats on a single title, in a central pocket close to the hospital and everyday convenience.
Healthcare Proximity: Located approximately one minute by car to Timaru Hospital.
Central Convenience: Just a 3-minute drive from the Timaru town centre and CBD.
Essential Infrastructure: Located within a 1-minute drive of Woolworths Timaru on Browne Street, offering premium lifestyle convenience for residents.
The substantial 1,012 m² land holding carries a building with 260 m² of floor area, divided into four independent rental streams:
Flats 1, 2 & 3: Three ground-floor units, each configured with a double-bedroom layout, kitchen, and bathroom.
Flat 4 (Upstairs): A two-bedroom configuration, currently secured on a fixed tenancy extending to 30 October 2028.
Each flat operates on independent heating utilities. Structural history includes documented ceiling insulation upgrades executed in 2022 to Flat 3 and the upstairs level. External infrastructure includes a single garage to the front and four distinct clotheslines to the rear.
The block features a transparent rental performance profile. Flat 3 has recently become vacant, having historically returned $350 per week according to owner records. Marketing is underway to re-let this space, presenting an open window for the incoming owner to finalise tenant selection or calibrate to updated market conditions.
Active Holding Income (3/4 let): $1,000 per week | $52,000 per annum (approx. 6.7% Gross Yield)
Projected Income (Fully let): $1,350 per week | $70,200 per annum (approx. 9.0% Gross Yield)
Disclaimer: Performance indicators and historical gross yield metrics are based on a baseline acquisition price of $779,000. Calculations are executed prior to factoring statutory rates, insurance, property management outgoings, or operational vacancy. Rental figures for Flat 3 reflect owners historical records, not explicit financial guarantees. Buyers must conduct their own independent due diligence.
5 bedrooms | 4 bathrooms | 1 garage | 260 m² floor area | 1,012 m² site area
Contact Ben to review the property folder or schedule a private site inspection.
Please be aware that some information has been sourced from Property Smarts and we have not been able to independently verify the accuracy. Land and floor area measurements are approximate and boundary lines are indicative only.
