14, 16, 18 Freyberg Street, Roslyn, Palmerston North, Manawatu / Whanganui

The current owner has owned the property (14, 16 & 18 Freyberg Street) between 2 (18) and 29 (14 & 16) years. During this tenure, they have turned very sound "plain" buildings into 12 very desirable apartment style residences largely occupied by long term stay medical professionals who enjoy the well cared for, peaceful and private environment. An excellent environment producing a high end, stable income, this is an exciting opportunity. Don't miss it - call Stu on 027 444 1594 Viewing by appointment only.

14A & B Background: Originally built in 1915 it was named Clayfields Cottage as was the residence of the manager for the Hoffman Kiln Brickworks (Featherston Street). The current owner has since their ownership, turned this lovely "character" home into a one bedroom (adjacent carpark) and a large two bedroom (small house) at the rear with a lovely sunny, private backyard. The two bedroom residence is the only residence that is not furnished.

(1-8)/16 Freyberg - Roslyn Residences Background: When purchased by the current owner in 1996 this exceptionally "solid" block of flats was a bit of a "plain Jane." With many upgrades and renovations since, this "Residential Purpose Built Flats" built in 1950 have morphed into a very special environment where quiet privacy and space is enjoyed by the occupying tenants. The high quality, fully furnished residences are home to long-term stay medical professional who enjoy the locality and it's easy access to their place of work. Due to the exceptional standard of living this environment provides, vacancies are rare, making income very stable.

18A & B Freyberg Street Bought and completely renovated from a sound but "tired" home into two upmarket and beautifully presented one bedroom residences with fabulous views over the expansive Freyberg High School grounds. With No.18 there is an exciting twist!! At the rear and separate from the front house.... a large 8x8m double garage with an excellent "room" above. This "room" has served as a workshop, storage, smoko room for the management/maintenance team but would remain as is or become a lovely apartment....potential.

Income: At A Glance

14 Freyberg Street 14A - $490 14B - $520

16 Freyberg Street 1/16 - $540 2/16 - $540 3/16 - $520 4/16 - $520 5/16 - $540 6/16 - $540 7/16 - $540 8/16 - $540

18 Freyberg Street 18A - $540 18B - $560

Total: $6,390 x 52 $332,280 per annum

Expenses: Rates - $28,520pa Insurance - $20,200pa R/M ($1,000 per unit per year) - $12,000pa Total: $60,720pa

Nett Income: $271,560 per annum

For further information, please visit: https://rwpalmerstonnorth.co.nz/PNO31295