116-118 Browns Road, Manurewa, Manukau City

Barfoot & Thompson Commercial are pleased to offer for sale this purpose-built investment property in the Auckland suburb of Manurewa.

The development at 116-118 Browns Road provides purpose-built residential accommodation designed to meet the shortage of housing for individuals seeking one-bedroom units in South Auckland.

The property is comprised of five separate buildings, each containing 15 one-bedroom units with en-suites, 75 studio units in total, on 2,030m² of land in close proximity to Homai railway station. Each building is on its own separate title, creating an affordable investment opportunity.

The buildings are leased to Maranga Fanau Charitable Trust, a substantial private entity that works closely with the government through the Ministry of Social Development and other agencies. The organisation provides a range of essential services, including social housing, school mentoring, and elderly support. The lease is for 12 years at $327,600 per building. This is a fully net lease with outgoings payable by the lessee, other than rates and management fees.

This property offers hassle-free income in a high-demand market segment with a high yield.

KEY FEATURES:

• 12-year lease to Charitable Trust

• $297,554 net rental per building

• 15 one-bedroom units per building

• Fully managed

• High yield

• Buy one or more buildings

• Vendor finance available

Call now for more details.

See this listing on Barfoot & Thompson