Super size investment - 20 units for sale


100-120 HQ Apartments, 4 Lake Avenue, Frankton

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Super size investment - 20 units for sale | 100-120 HQ Apartments, 4 Lake Avenue, Frankton | 4481501 |      X Close
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Super size investment - 20 units for sale


A unique opportunity to purchase a large rental portfolio in Frankton, Queenstown.

Block E is a two-level complex consisting of 18 self-contained studios and two larger one bedroom units, a total of 20 units in total all on separate titles. Currently all units are rented on long term leases providing a $320,000 gross income per year.

The apartment block has been fully renovated throughout in 2013 both interior and exterior including double glazing, increased insulation, new kitchens, and bathrooms and painted. Extensive upgrades to the site infrastructure was also completed. The units are also compliant with Healthy Homes regulations and each unit is separately metered allowing for easy renting to individual tenants, due to this the occupancy is very high and always in demand.

The other main feature of this property is the prime location within Frankton and only meters from the lake edge and reserve land. A desirable location with renters with easy access to jobs and shopping, cafes, and bars, due to this the units are always rented and sought after. Additional benefits of this property are the laundromat which generates additional income and an abundance of parking on site.

A rare opportunity to purchase a rental portfolio of this size within Queenstown and with expected rental growth as the region recovers from Covid this provides a strategic purchase. Individually titled allowing for individual sell down if the next owner chooses. Located within a 1.6 Hectare medium zoned site opposite Lake Wakatipu and reserve land. This is an exciting opportunity and a rare offering.

The current owner is wanting to sell this block of units asap. If you want further information or to book a viewing, please contact Mark Martin.

Viewing: By Appointment

Deadline:Tuesday 15th February 2022 unless sold Prior

Mark Martin

Frankton

Licensed under the REA Act 2008

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100-120 HQ Apartments, 4 Lake Avenue, Frankton

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Mark Martin

Frankton

Licensed under the REA Act 2008

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