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40 Shannon Street

Alexandra Otago

3
3
125 m²
House
Currently for sale - view listing

Overview

Generating an income of $1,120 per week

Positioned in a highly convenient Alexandra location, just a short stroll to the township and handy to Pioneer Park, this unique investment opportunity offers immediate income with minimal upkeep. Originally built in the 1970s, this 125sqm (more or less) property was thoughtfully reconfigured in 2004 into three self-contained one-bedroom studios, each complete with its own kitchen and bathroom. The property has a Code Compliance Certificate and is Healthy Homes compliant, providing peace of mind for investors. Constructed with durability in mind, the studios have been well maintained and refurbished, with each unit benefiting from its own designated car park. Set on a 340sqm (more or less) Unit Title site, there is also a shared area suitable for additional parking, including space for a campervan. Each studio is approximately 43sqm (more or less) and is currently tenanted, generating the following weekly rental income (WiFi included): • Studio 1: $340 per week • Studio 2: $380 per week • Studio 3: $400 per week Total rental income: $1,120 per week Gross annual income: $58,240 A chattels list for each studio is included in the sale documentation. Whether you're looking to expand your investment portfolio or secure a property with strong existing returns, this is an opportunity not to be missed. Get in contact today to arrange a viewing or request further information.

Features

3 bedrooms
3 bathrooms
125 m² floor area
House

Happy sellers in Alexandra

82%
82% of sellers in Alexandra reported that their sale price either exceeded or met their price expectations.

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

This is based on voluntary sentiment collected from 66 reviews in Alexandra over the last 12 months.

Local market activity for 3 bedroom houses in Alexandra

In the last 12 months, 54 three-bedroom houses similar to 40 Shannon Street, have been sold.

This represents a 2% increase in three-bedroom houses sales when compared to the previous 12 months.

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