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Off Market

Unit 1, 2 and 3/91 Waikawa Road

Picton Marlborough

2
1
300 m²
449 m²
Unit
Grant DouglasGrant Douglas, last sold this property on 23 April 2026 after 262 days on market.

Overview

3 Flats - $7.8% return - $64,740/year

Vendor Says SELL — Now $825,000 Gross return at current rents: ~7.8% (combined $1,245/week = $64,740/year) Outstanding Investment or Multi-Living Opportunity – Walk to Picton, Marina and Foreshore The vendor wants this sold now and has priced it to attract attention. A solid 1970s home converted into three self-contained flats, all currently rented, in a sunny, easy-care location just a short stroll to Picton Marina and the vibrant CBD. Whether you’re looking for a high-yield investment, multi-generational living, or affordable accommodation with income, this opportunity delivers — and it’s priced well below replacement value. - The Offer Now $825,000 for the entire property Current combined rent: $1,245/week = $64,740/year Indicative gross yield: ~7.8% - Current Configuration Flat 3 – Top Floor: 3 bedrooms + office/study, two balconies, open-plan living Rented at $520/week Indicative value $440,000 | ~6.1% yield Flat 2 – Ground Floor: 2 bedrooms, well-laid-out with a good tenant Rented at $300/week Indicative value $270,000 | ~5.8% yield Flat 1 – Ground Floor: 2 bedrooms, tidy and well-maintained Rented at $425/week Indicative value $330,000 | ~6.7% yield - Additional Features Off-street parking for each flat Separate power meters Easy walk to cafés, waterfront, ferry terminal, and local walks Don’t Miss This With the vendor’s clear instruction to sell now, and a very attractive $825,000 price tag, this is an opportunity that won’t last. Properties offering such strong returns and central location are rarely available. ? Contact Grant today for full details or to arrange a private viewing. Viewings by appointment only.

Features

2 bedrooms
1 bathroom
300 m² floor area
449 m² lot size
Unit

Estimated Value

We need at least 3 similar 2 bedroom units sold in Picton over the last 12 months.

Property history for Unit 1, 2 and 3/91 Waikawa Road

2026
Sold
23 Apr 2026 by Grant Douglas, of Tall Poppy Real Estate - Marlborough

Happy sellers in Picton

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

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

This is based on voluntary sentiment collected from 24 reviews in Picton over the last 12 months.

Local market activity for 2 bedroom units in Picton

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