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186A Mary Street

Richmond Southland

3
2
100 m²
342 m²
House
Currently for sale - view listing

Overview

Richmond Dual Income with Excellent Returns

This converted property in sought-after Richmond delivers dual income from two fully self-contained flats, each with its own entrance, power meter, and hot water system. Currently generating $645 per week combined with long-term tenants keen to stay, this property offers a 7.85% gross yield on the asking price - a standout return in today's market. Flat A offers one bedroom, while Flat B provides two bedrooms plus two off-street parking spaces. Both flats are fully Healthy Homes compliant, present well with modern, tidy interiors, and feature practical layouts that appeal to quality tenants. Flat A - One Bedroom: - Self-contained with separate entrance - Open-plan living and kitchen - One bedroom - Bathroom with shower - Separate power and hot water - Heat pump Flat B - Two Bedrooms: - Self-contained with separate entrance - Open-plan living and kitchen with breakfast bar - Two bedrooms - Bathroom with shower - Separate power and hot water - Heat pump - Two off-street parking spaces The Property: - Combined rental income of $645 per week - 7.85% gross yield on asking price - Both flats fully Healthy Homes compliant - Long-term tenants wishing to remain in both flats - Fully independent living spaces - Located in popular Richmond Richmond remains one of Invercargill's most desirable suburbs, and dual-income properties like this rarely come to market. With both tenants settled and wanting to stay, you're buying a turnkey investment with immediate cash flow and none of the vacancy risk or tenant-finding hassle. The setup is genuinely independent - separate everything means minimal landlord involvement and straightforward management. Each flat has its own identity, its own entrance, and complete privacy from the other. For investors seeking reliable income from quality tenants in a strong location, this ticks all the boxes. Make the smart move - contact me today to arrange a viewing. 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

Features

3 bedrooms
2 bathrooms
100 m² floor area
342 m² lot size
House

Happy sellers in Richmond

87%
87% of sellers in Richmond reported that their sale price either exceeded or met their price expectations.

Richmond stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 23 reviews in Richmond over the last 12 months.

Local market activity for 3 bedroom houses in Richmond

In the last 12 months, 22 three-bedroom houses similar to 186A Mary Street, have been sold.

This represents a 83% decrease in three-bedroom houses sales when compared to the previous 12 months.

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