26 Gladstone Road, Matamata, Matamata

Located at 26 Gladstone Road, Matamata, this residential rental flats complex presents an excellent investment opportunity with five incomes. The property features 7 bedrooms, a floor area of approximately 330 m2, and a substantial land area of 1,300 m2. Ownership is freehold, ensuring long-term value. The building, constructed in 1960 with brick walls and an iron roof, is in average condition. It offers good off-street parking with three carports and is fully tenanted, generating a current rental return of approximately $86,840 gross per annum. The property's level contour and low-maintenance, fenced section with two entrances add to its appeal.

The property has seen a significant capital value increase, from $730,000 on July 1, 2018, to $960,000 on July 1, 2021, marking a 31.51% growth. The latest sale on December 7, 2023, was at $1,110,000, significantly higher than its HouGarden AVM of $922,500. This growth trajectory underscores the property's solid investment potential.

Located within the Matamata Primary School zone, which has a decile rating of 6, the property benefits from being in a good educational environment. This factor, combined with the property's features and investment returns, makes it a compelling choice for investors looking to expand their portfolio.

Updated on April 06, 2024.