15.17% YIELD, 10% VENDOR FINANCE, 10 UNITS ON OWN TITLES
Listing Number: 1168
Posting Date: 11 September 2008
10 units on own titles within easy walk to the CBD and Queens Park (Botanical Gardens). These units are in excellent condition and have been used as motel accommodation but can be sold separately or operated as 10 x rentals. Invercargill has a thriving economic outlook and demand for rental accomodation is good. These fully furnished units, some with 2 x double bedrooms make ideal rental units and property managers have appraised the rent at an average of $380 per week for each unit - I have used $350 for the calculations - see attached appraisals. I have a 2 bedroom fully furnished unit in Invercargill and it rents for this amount but these are closer to town. All units have open plan living, dinette or kitchen and separate bathroom; with access to the unit by ranchslider from your balcony area. Chattels list is extensive.