53 Bowmont Street, Appleby, Invercargill, Southland, 9812, New Zealand

This property offers the new owner a significant rental return with three incomes under one roof currently totaling $685 per week ($35,620 p.a.) There is potential to increase this by $40 per week in May 2022.

The equates to a 6.47% gross yield on asking price and a potential 6.85% gross yield with the rent increase above.

Each flat has its own separate entry, kitchen, bathroom and laundry area. A triple carport provides parking for each tenant.

Flat 1 is a fully renovated 1 bedroom studio apartment (Combined kitchen / dining / living). Currently rented for $240 per week.

Flat 2 has 2 bedrooms, with a recently updated bathroom vanity and kitchen bench. Currently rented for $265 per week.

Flat 3 has 1 bedroom along with a combined kitchen / dining and separate living area. Currently rented for $180 per week. This could be increased to $220 in May (12 months from last increase) or could go higher by updating the interior.

The property has been reroofed, recently painted externally, insulated top and bottom, drainage has been updated and will be fully Healthy Homes compliant prior to settlement.