Perched above the city at the quiet end of Devon St right on the Kelburn boundary sits this extensively upgraded three-flat property offering immediate income, exceptional flexibility, and a rare chance to secure a premium-positioned investment with iconic Wellington views. With all the hard work already done, this is a set-and-forget opportunity with strong returns and future potential.
- Grand villa comprises of three spacious, superbly presented flats: One with 3-4 double-bedrooms, another with three and a studio with the bonus of an off street car park
- Healthy Homes compliant, so warm and comfortable with heat pumps in most rooms and an exceptionally sunny aspect
- Breathtaking views in all directions, sweeping from the harbour and city, across the town belt, and beyond Government House to Brooklyn and the Aro Valley
- Flexibly configured to evolve with your lifestyle: rent out all three flats or live in one and use the others to help pay the mortgage
- All 3 units have been fully replumbed, relined throughout with modern insulation, fire-rated Gib, exceptional acoustic isolation and fully rewired with extensive data and power infrastructure including hard wired smoke alarm systems keeping right up to date with the modern codes.
Owner's Comment:
The high-quality renovations have been completed with long-term living in mind " this is not a "paint and flip" property. A comprehensive, detailed list of improvements is included in the info pack, reflecting the care and attention the owner has invested over the years.
Property Breakdown & Rental Assessment:
- Flat 1: Generous 3-4 bedroom, 2-bathroom flat blending character and modern comfort. High-end renovations throughout, heat pumps in most rooms, off-street car park, superb sun and city/harbour views. Currently owner-occupied; previously rented when work took the owner overseas. Rental assessment: $1,050-$1,200/week.
- Flat 2: Flat 2: Self-contained studio with modern bathroom and kitchen, ideal for rental income or guest accommodation. Currently returning $400/week.
- Flat 1 & 2 are specifically designed to be easily combined for use as a multi-generational household or become a larger single home.
- Flat 3: Light-filled 3 double-bedroom flat with 1 bathroom, extensively upgraded and well-presented. Currently returning $775/week.
- Total potential income: $2,375, offering a solid return with room for future growth.
R.V $1,750,000
Deadline sale (unless sold prior) closes 2pm, Thursday 2nd April 2026 at 8 Kent Terrace, Wellington
^Source of information: Property Guru, Nexus, Wellington City Council (non-verified)
