A Bale of an Investment
Offers invited from $1.49m
Why build when you can buy an established property for a fixed price and bank rental returns from Day 1?
Our owners have enjoyed stable rental income flowing from 3 Bale Road for the last 3½ years. Currently returning $70,200 per annum gross, this property is a low maintenance near new investment in a popular Queenstown suburb. With current rent of $875 per week for the three bedroom home and a vacant unit previously rented at $475 per week, there is scope to increase both rentals, potentially to $1,000 per week for the home and $525 per week for the unit. With QLDC and ORC annual rates totalling $6,688 plus an allowance for annual insurance, a return of approx. 4.75% per annum is on offer here.
The three bedroom home is offered with vacant possession from 20 January 2025. The one bedroom unit is vacant now.
Set on an easy care fenced and grassed 400m2 section, the property is in good condition inside and out.
The three bedroom home has a spacious open plan living, dining and kitchen with a smart butler’s pantry. The master bedroom is well proportioned with a walk in robe and ensuite and external access to the patio. A full family bathroom (with bath) services the other two bedrooms. The tidy one bedroom unit has a pleasant western outlook from the living area.
Experience indicates that the Queenstown property market, and Hanleys Farm in particular, has been an excellent rental investment over the last 5-7 years.
Karen Castiglione
Lawyer/Director
