Located just 5km from Wanganui's CBD, this multi-dwelling residential complex delivers circa $300,000+ annual income and sits on a generous 9,498sqm (2.3 acres) of freehold land.
As a bonus, an additional 1,191sqm freehold section is included across the road - ideal for future development or land banking.
Investment Highlights:
15 income-generating units:
10 x studio units
3 x one-bedroom units
2 x two-bedroom units
Current annual rental income: $300,000+
Huge 3-bay garage/workshop included
Freehold title
Professionally managed for hands-off ownership
High occupancy rate supported by strong occupant demand
Upside Potential:
This property isn't just about cash flow - it also offers significant value-add opportunities:
Upgrade several powered caravan sites
Add temporary cabins or tiny homes
Leverage the existing communal kitchen, laundry and toilets
Explore development options on the bonus 1,191m² freehold section
Perfect for those looking to diversify income streams or expand the offering into short-stay or worker accommodation.
Prime Location:
Just 5km to Wanganui CBD
Located on State Highway 3 - easy access for commuters
Peaceful, park-like grounds with great occupant appeal
Close to essential amenities, transport, and Lake Wiritoa
Why Investors Will Love This:
Strong, reliable cash flow
Diversified unit mix across multiple tenancies
Low-maintenance, professionally managed asset
Future capital growth and development potential
Sought-after location with growing demand
Opportunities like this - combining scale, income, land, and potential - are rare. Contact Rob Bennett or Shannon Caldwell to request the full information pack or arrange a private viewing.
