3-5 North Road, Kaitaia, Far North, Northland

Unlock the potential of this prime investment opportunity!

This property features 7 units plus 1 x 3 bedroom home. The units comprise of 2 x two bedroom units, 2 x one bedroom and three studio units all fitted with heatpumps and extraction fans. Each unit has the provision for parking except the main dwelling that has access to the double lock up garage situated at the rear of the property. All rental units meet the Healthy Homes Standards.

All the units are tidy and are tenanted on a periodic basis with a current yield of over $150,000 per annum. Figures current from October 2024 less expenses and based on full occupancy. We are still experiencing a shortage of rental properties in Kaitaia.

The property has been well maintained with high occupancy rates and under strict property management with Ray White Kaitaia.

There is potential to add to the income stream by renovating the self contained unit attached to the main house.

Centrally located in Kaitaia close to local schools, supermarket and other amenities. Formerly a motel now utilised for transitional emergency housing. Currently zoned residential under the Kaitaia Operative District Plan.

This property is suitable for seasoned investors or those looking to start their real estate portfolio.

Don't miss out on this lucrative opportunity!

For Sale By Tender - Closing 29 November 2024 @ 4.00pm. (Unless Sold Prior).

Contact Diane Weaver today to arrange your appointment to view or request and Information Pack.