505 Featherston Street Roslyn, Palmerston North City

The "Crown Jewel" of investment's

6 semi detached 2 bedroom brick apartments plus character villa converted to 2 luxury apartments.

Owned by the same investor for 20 plus years this popular group of apartments is now coming to market.

With a high occupancy rate and repeated approaches from investors wishing to buy, the owner of this property has finally relented and now brings this investment to the market.

All of the 6 x 2 bedroom apartments and character villa (now 2 x 3 bedroom apartments) have been steadily renovated.
These spacious apartments are presented to the market in very good condition and the villa apartments are presented in an as new condition with major renovations completed that have included new piles where required, complete new flooring covered with either carpet or vinyl plank, new kitchen and laundry and bathroom and all new insulation and new heat pumps. The villa apartments have been painted to a high standard - inside and out. The block of 6 were painted a few years ago and are presented in very good condition. They also include double glazing.

There will be very little if any maintenance for the next 10+ years. The six apartments stand in a block at all one level and have a carport for each with additional parking space for the odd visitor.

The driveway is chip sealed and provides adequate turning space.
The villa has off street parking - 2 car parks for each apartment.

The property is nicely landscaped with minimal maintenance required.

Each apartment has been insulated and comes with a heatpump. All apartments meet current Healthy Homes standards.

All apartments meet local council building code requirements.

Bus stop is directly outside.

Current rental return is $185,640 per annum.

Contact Kevin today - 027 448 1956
For further information, please visit: https://rwpalmerstonnorth.co.nz/PNO31090