19 Te Herekiekie Street, Turangi, Taupō

River location, tenanted investment

Two homes, one section, and a tenancy already locked in — this is the kind of setup investors spend years looking for and rarely find.

Just moments from the Tongariro River, this property pairs "Alba," a fully modernised two-bedroom river bach, with a striking 2023-built main home. Alba has been running as a successful Airbnb, delivering an average net income of approximately $35,000 per year — proof the numbers already work before you even factor in the main house.

From the end of September, an incoming tenant will rent both the main home and Alba together on a fixed 12-month tenancy at $1,000 per week, giving a new owner immediate, secured income from day one with nothing left to organise.

The main home itself was built in 2023 by the current owners and doesn't hold back on design or livability. Spread across two levels, it offers three bedrooms and two bathrooms, with generous outdoor living spaces made for entertaining or simply enjoying the river lifestyle Tūrangi is known for. Internal access double garaging is paired with an over-height boat garage, giving plenty of room for vehicles, boats, and gear — practical for a location built around the water.

Add to this a resource consent already in place to subdivide the two dwellings, and the upside extends well beyond the current return. Whether an investor chooses to hold both properties together for the combined rental income or plans ahead toward subdivision down the track, the flexibility is already built in — the hard work has been done.

Walking distance to the Tongariro River, in one of Tūrangi's tightly held pockets, this is a property that offers a rare mix of a proven income, quality modern construction, and a clear pathway for future value. For the investor looking for a tenanted asset that performs immediately and holds options for later, this one is ready to go.