12 Ngaio Street

West End Manawatu-Wanganui

405 m²

911 m²

House

Currently for sale - view listing

Overview

Ngaio Accommodation - Astute Investment

With positive occupancy delivering a current return of $2,290 per week, equating to $119,089 gross per annum, inclusive of utilities. This investment offers the attractive advantages of commercial incentives within a residential framework. Refined over time to deliver a low-maintenance and highly efficient investment, this well-established boarding house presents an outstanding opportunity to step straight into a proven income stream. Consented to operate as an 11 bedroom community accommodation facility, this is a business-ready proposition, complete with plant and chattels, with a true take-the-baton-and-run appeal. The property is intelligently configured to support tenant comfort and operational ease, featuring two common living spaces, a functional kitchen area and three bathrooms. Significant upgrades have been completed over the years, including double glazing, rewiring and a new roof, ensuring the building is well maintained and efficient. A mix of single and double rooms remains consistently sought after, underpinned by a prime West End location. With a nearby bus route to Massey University and a short walk to the CBD, the convenience factor is a major drawcard for both students and working professionals. The property is overseen by a live-in manager/tenant, fostering a quiet, well-vetted environment that supports strong tenant retention and ongoing demand. For those seeking a smart, established investment where the groundwork has been done and the income is already in place, this is an opportunity that commands attention. PNCC & Horizons Rates $11,385.90 PA Insurance $14,765.77 PA Please contact us for a price guide. (Capital Value $850,000)