228 Grey Street, City Centre, Palmerston North, Manawatu / Whanganui

An outstanding opportunity to secure an investment property comprising two individually tenanted flats on a single title - a smart addition to any property portfolio. Ideally positioned in a central location, the property is within easy walking distance of Terrace End shops, supermarkets, and local amenities, ensuring strong tenant demand from such a practical central location. Each flat is well configured, offering two bedrooms, a bathroom complete with shower, toilet, and vanity, a functional kitchen with integrated laundry facilities, and a comfortable living area. A heat pump in each flat provides year-round comfort. The front flat (approximately 63m2) benefits from a modern single garage, along with a storage shed, while the rear flat (approximately 56m2) enjoys off-street parking and partial double glazing. Set on an easy-care section requiring minimal upkeep, this is a hassle-free addition to any investment portfolio. Currently returning a combined rental income of $935 per week, the property will be offered with vacant possession for Flat 1 and a periodic tenancy in Flat 2, with a tenant who would be happy to remain. Photos of Flat 1 are available upon request, along with the property information files - enquire today.

To be sold by Tender. Tenders close 4.00pm Thursday, 30th April 2026 (Will not be sold prior)