Located just 5km from Wanganui's CBD, this multi-dwelling residential complex delivers circa $300,000+ annual income and sits on a generous 9,498sqm (2.3 acres) of freehold land.
As a bonus, an additional 1,191sqm freehold section is included across the road - ideal for future development or land banking.
Investment Highlights:
15 income-generating units:

10 x studio units

3 x one-bedroom units

2 x two-bedroom units

Current annual rental income: $300,000+

Huge 3-bay garage/workshop included

Freehold title

Professionally managed for hands-off ownership

High occupancy rate supported by strong occupant demand

Upside Potential:
This property isn't just about cash flow - it also offers significant value-add opportunities:

Upgrade several powered caravan sites

Add temporary cabins or tiny homes

Leverage the existing communal kitchen, laundry and toilets

Explore development options on the bonus 1,191m² freehold section

Perfect for those looking to diversify income streams or expand the offering into short-stay or worker accommodation.

Prime Location:
Just 5km to Wanganui CBD

Located on State Highway 3 - easy access for commuters

Peaceful, park-like grounds with great occupant appeal

Close to essential amenities, transport, and Lake Wiritoa

Why Investors Will Love This:

Strong, reliable cash flow

Diversified unit mix across multiple tenancies

Low-maintenance, professionally managed asset

Future capital growth and development potential

Sought-after location with growing demand

Opportunities like this - combining scale, income, land, and potential - are rare. Contact Rob Bennett or Shannon Caldwell to request the full information pack or arrange a private viewing.