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.
Wāhi Tiriti | Tawhiti | Tau Rūma Moe | Tau Rūma Horoi | Rohe Whare | Wā Hokona | Utu Hokona | Pūtake Raraunga | |
|---|---|---|---|---|---|---|---|---|
 | 0.22 km | 3 | 2 | 170m2 | 2024 05 02 | $665,000 | Council approved | |
0.27 km | 3 | 192m2 | 2024 04 10 | $790,000 | Council approved | |||
0.25 km | 4 | 1 | 170m2 | 2024 03 18 | $735,000 | Council approved | ||
 | 0.18 km | 3 | 1 | 100m2 | 2024 03 07 | $440,000 | Council approved | |
 | 0.30 km | 2 | 1 | 92m2 | 2024 03 07 | $445,000 | Council approved |