17 Bed Apartment in Wellington North

INCOME GENERATING PROPERTY FOR SALE IN THE WINELANDS

This small housing complex is one of the oldest established affordable student and non-student accommodation available in Wellington who mostly renew their contracts annually.

The harmonious community among tenants fosters a positive atmosphere, contributing to tenant retention and overall high-demand interest.

The location is ideal for its purpose, offering multi-unit housing to tenants in a safe neighbourhood close to Wellington CBD and amenities.

The property is situated on two erven of which the one has no buildings on except for a portion of the swimming pool and the parking garage. Although the erf is not very large it has business rights and creates the opportunity to develop two additional housing units or a small retail unit.

There are a total of 17 units equipped with bathrooms, fitted kitchens/kitchenettes and separate pre-paid electricity meters.

Certain rental units have access to a private swimming pool, enhancing tenant lifestyle and increasing property value, providing a blend of comfort and practicality.

The owner spent a vast amount of money in the last two years in upgrading the property and furniture of approximately R175 000 are included in the asking price.

Invest in this lucrative opportunity and reap the rewards of a well-positioned, income-generating property with excellent growth potential. The rentals amounts to approximately R75 000 per month.

Please call us to arrange a viewing!