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
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