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Dual Income Stream


485 Gladstone Road, Gisborne Central Gisborne


Auction Location: Tracy Real Estate , 121 Ormond Road, Whataupoko.

S. O. L. D. … Here is a pocket rocket investment for savvy Investors looking to add a sure fire income earner to their portfolio. And, not only does this property offer an opportunity to add value to Flat 1, as has been just completed on Flat 2, but the location is excellent !

The postage size section is no stress for Investors with just enough land out back for a tenant, but not too large for on-going ground maintenance. Additionally the exterior cladding is solid as, and in tidy condition with a recent repaint.

From an Investment opportunity the dual income is a safe little returner, but looking at the proximity to town on the main artery road into city central, with the appropriate resource consents, this would be a great position for 2 small office outlets also too.

Crunch your numbers … what rate of return entices you to buy this property – we are listening loud and clear. And remember, rule of thumb, in any market, property in the long term is SAFE AS HOUSES !

• Dwelling size: 124m2
• Rates: $4,325.20 (dual services to site as converted dwelling to flats)
• 2017 RV: $190,000
• Flat 1 currently tenanted @ $250 per week
• Flat 2 recently overhauled – vacant
• Rental Appraisal attached for Flats 1 and 2 @ $280-$300 once fully compliant [insulation and heating solutions]

TENDER [unless sold prior] 12pm Thursday 16th July 2020

The vendor reserves the right to enter into any contract for sale prior to close of tender date, or vary the published tender date, at their discretion. If this situation arises, all registered interested buyers will be notified. If you have interest about buying this property, be sure to register your interest with our Agency to ensure you are kept fully informed throughout the campaign.

  • Address: 485 Gladstone Road,
  • Area: Gisborne Central
  • State/Country: Gisborne/NZ
  • Property Id: RX2368807
  • Property Size: 124 m²
  • Property Lot Size: 506 m²
  • Bedrooms: 2
  • Bathrooms: 2