Two homes. Two income streams. One serious investment opportunity.
Investors, this one deserves your attention.
The out-of-town owner has changed their plans and wants this property sold.
With two completely independent dwellings on one title and the potential to generate around $1,000 per week in combined rental income, 264 Park Road offers a compelling opportunity to add serious versatility and income potential to your portfolio.
The four-bedroom main home is currently rented for $650 per week, with the existing tenants keen to stay.
The separate one-bedroom dwelling at the rear has previously achieved $400 per week and is currently vacant, giving you the opportunity to secure a new tenant and potentially take the combined rental income to approximately $1,050 per week.
That's two tenants, two dwellings and multiple income streams from one property.
The main residence provides four bedrooms, including a master with ensuite, a modernised kitchen, family bathroom, separate toilet and built-in laundry. It is a practical, well-configured home with established rental appeal.
The fully updated rear dwelling is an impressive addition, offering one bedroom, bathroom, walk-in wardrobe, open-plan kitchen and living, covered porch and private courtyard.
The double garage at the rear of the property includes a separate toilet and laundry space, ideally suited to the one-bedroom dwelling.
Privacy and independence are key features here. Both homes have their own entrances and separate parking, while separate power and gas allow each dwelling to operate independently - A significant advantage when it comes to managing separate tenancies.
And then there's the location. Hokowhitu remains one of Palmerston North's most sought-after rental locations, close to Massey University, quality schools, river pathways, The Esplanade, Hokowhitu Village and the CBD. All key drivers of tenant demand.
The numbers stack up:
4-bedroom home: $650 per week currently rented
1-bedroom home: Previously $400 per week
Potential combined income = approximately $1,050 per week
Whether you're an experienced investor looking for another high-performing asset, a first-time investor wanting multiple income streams, or you're looking for a home-and-income proposition, this property deserves serious consideration. The owner has relocated; the instructions are clear - this property needs to be SOLD.
Don't wait for someone else to recognise the opportunity first.
Contact Aleisha today for further information or to arrange your private viewing.
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