Character Investment with Triple Income Stream

This 1920s character home on Bowmont Street has been thoughtfully converted into three separate flats, creating a solid investment opportunity in Appleby's sought-after location. With SIT, Mitre 10, and supermarkets all within easy walking distance (according to Google Maps), this property offers tenants genuine lifestyle convenience that helps keep vacancies low.

Current Rental Setup:
- Flat 1 (one bedroom): $310 per week
- Flat 2 (two bedrooms): $340 per week
- Flat 3 (one bedroom): $280 per week
- Total weekly income: $930
- 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 home circa 1920s
- 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
- Triple carport
- 607m² section (more or less)

This is honest investing - the property has been divided to maximize rental return, and while it's showing its age in places, it's been maintained to meet all compliance requirements. The real value here is in the numbers: three income streams from one property, in a location where tenants actually want to live.

The Appleby location keeps this property attractive to tenants. Students can walk to SIT, anyone can grab groceries or hardware without jumping in the car, and the neighbourhood offers that established feel that long-term tenants appreciate.

For investors looking at the Invercargill market, this is a straightforward proposition - multiple income streams, proven rental history, and compliance already sorted. The character features are a bonus, but the real story is in the rental yield and the location that helps maintain it.

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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