Four Flats, One Big Opportunity - 7.8%GY

This impressive 1910s two-storey brick villa at 81 Earn Street, Appleby sits on a generous 716m² section (more or less) with a total floor area of approximately 244m², and has been thoughtfully converted into four self-contained flats. With three flats currently tenanted and a fourth currently advertised, the income potential here is hard to ignore.

At full occupancy, this property has the capacity to generate $1,200 per week - or approximately $62,400 per annum - making it one of the more compelling multi-income opportunities currently available in Invercargill.

The savvy investor could consider taking the opportunity to renovate Flat while it is vacate to increase the rent and improve the return.

The property breaks down as follows:

• Flat 1 - One bedroom, currently renting at $350 per week
• Flat 2 - Two bedrooms, currently renting at $320 per week
• Flat 3 - Studio, currently renting at $170 per week
• Flat 4 - Three bedrooms, currently renting at $360 per week

All units are healthy homes compliant - certificates available

The building itself carries real presence - the double-storey brick construction is a genuine rarity in Invercargill, and the character details visible throughout speak to the quality of the original build. Internally, the flats vary in their level of presentation, and there's no denying this property would benefit from ongoing maintenance and updating across the portfolio. But that's exactly where the upside lies. For an investor with a willingness to put in some work, there is genuine scope to lift rents, improve presentation, and increase the overall value of the asset over time.

Outside, the 716m² (more or less) section provides ample space, with off-street parking and the kind of footprint that gives you options.

The Appleby location adds further appeal, with easy access to everyday amenities and solid tenant demand in this part of the city.

Whether you're an experienced investor looking to add a multi-income property to your portfolio, or someone stepping into property investment for the first time with eyes open to the opportunity, 81 Earn Street deserves serious consideration.

Make the smart move - contact me today to arrange a viewing.

Please note: Viewing by appointment only.

Please be aware that this information may have been sourced from RPNZ/ Property Guru/ Land Information New Zealand/ Local Council and we have not been able to verify the accuracy of the same. Refer to our Passing Over of Information Statement at: https://www.smr.co.nz/passing-over-of-information Smart Move Residential is Powered by Agent X (2021) Ltd - Licensed Agent REAA 2008