This character weatherboard home on Herbert Street has been thoughtfully converted into three separate flats, delivering strong rental returns in one of Invercargill's most desirable neighbourhoods. Gladstone's reputation as a sought-after area means tenants want to stay, and vacancies stay low.
Current Rental Setup:
- Flat 1 (one bedroom): $330 per week
- Flat 2 (one bedroom): $310 per week
- Flat 3 (two bedrooms): $330 per week
- Total weekly income: $970
- All flats currently tenanted
The property comes with peace of mind for investors - Healthy Homes compliance is complete and meth tests were conducted before the current tenants moved in, so you're buying a property that's ready to perform from day one.
Property Features:
- Character weatherboard home
- Three separate self-contained flats
- Each flat with its own kitchen and bathroom facilities
- Heat pumps in all three flats
- Separate meters for fair utility management
- 675m² section (more or less)
- Off-street parking
This is straightforward investing - the property has been divided to maximize rental return while maintaining the character features that tenants appreciate. The Gladstone location is what really sets this apart from other multi-income properties on the market. It's an established neighbourhood where people choose to live, not just where they end up.
The numbers tell the story: three income streams delivering $970 per week, all compliance sorted, and a location that keeps quality tenants in place. For investors looking at the Invercargill market, this is a proven performer in a premium suburb.
Whether you're building a rental portfolio or looking for a solid addition to your existing investments, this property offers the combination of strong yield and desirable location that makes long-term sense.
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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