9 Alton Street, Nelson, Nelson / Tasman

Four flats, three lock-up sheds, Freehold Title, high income potential. A rare opportunity to secure a versatile multi-unit block in central Nelson offering immediate income with big upside. Perfect for investors, renovators, or owner-operators seeking strong yield and long-term capital growth.

Property snapshot:

• Land & Buildings: Freehold title with four self-contained flats

Tenancies:

• Two top-floor units currently run as a boarding house ($1,100 p/w)
• One refurbished lower flat ($550 p/w)
• One lower flat needing light work ($550 p/w potential)
• Additional Income: Three secure sheds (one double and two singles) – ~$250 p/w potential
• Projected Gross Income: $2,450 p/w = $127,000 p.a. when fully tenanted

Investment highlights:

• Strong rental demand in central Nelson
• Multiple dwellings on one freehold title
• Renovations already underway – heavy lifting done
• Dual income streams (residential and storage)
• Low-maintenance construction
• Option to upgrade further or redevelop (STCA)

Location:

• Quiet, established street close to Nelson CBD, schools, hospital and transport. Excellent long-term growth fundamentals in a tightening rental market.

The upside:

• Finish the remaining light work and unlock around $125,000 annual income from this high-yield, multi-stream property. A solid, value-add investment in one of Nelson’s most promising growth areas.

Financials, floor plan and inspection reports available on request. Contact Paul today.