Hedge Your Bets!
Canny investors will see the twofold investment opportunity here. One of Merivale's last remaining 'grand old ladies' has been carefully restructured into 4 elegant flats and successfully tenanted for the last few years with a total income in excess of $70,000 per annum. That in itself should grab the attention of the eagle-eyed, but perhaps even more enticing is the sizable chunk of prime real estate this lady rests upon. Zoned Medium Density your equity is reinforced by future growth in the land value. Right on the fringe of Hagley Park this is 'true' Merivale and despite what you may occasionally read, they are not making any more of it! The surrounding developments can only give you assurance your asset will be safe in the future. In the meantime these delightful apartments are worthy of your inspection. High ceilings and big windows with some lovely character features are the hallmarks of the three flats in this 1930's residence. The fourth is a separate quaint cottage with a fenced garden at the rear. It is easy to see why the current owner has never had an issue letting. The time has come however, for her to give up the 'Landlady' title and spend more time at her country house. How fortuitous is that?