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REQUEST FREE APPRAISALWhen markets become uncertain, buyers tend to look for two things: income and assets they trust. This property delivers both.
11A & 11B Kaniere Street offer something increasingly difficult to find: three established rental dwellings across two cross-lease titles, producing a combined $2,170 per week - $112,840 per annum (approx).
The location is a major part of the appeal. Positioned in Mount Maunganui, the property sits within easy reach of the beach, Bayfair, schools, arterial routes and the wider employment base of Mount Maunganui and Tauranga. It is the sort of location that consistently attracts tenants because it works for families, couples and workers wanting to live close to everything.
11A returns $850pw, 11B $620pw and the third dwelling $700pw, with all three Healthy Homes compliant and substantial recent expenditure already completed across the property.
The configuration also creates options beyond a conventional investment. For extended or multi generational families, buyers pooling resources, or those wanting to live in one dwelling while retaining income from the others, the flexibility here is difficult to replicate.
For investors chasing yield without abandoning asset quality, this is a rare combination: strong cashflow, broad tenant appeal, multiple use flexibility and Mount Maunganui real estate underneath it all.
At a time when buyers are searching for both return and security, opportunities like this deserve attention.
Two titles. Three incomes. $112,840 per annum (approx). Mount Maunganui.
Property ID:
EMT22033
Legal Description:
11A Kaniere Street Firstly an estate in fee simple as to an undivided 1/2 share in all that parcel of land containing 779 square metres (more or less) being Lot 13 on Deposited Plan 6234 and Secondly an estate in Leasehold under Lease number 13489893.3 being Flat 1 on Deposited Plan S60688. Both the first and second estates being comprised and described in Record of Title 1269772 (South Auckland Registry). 11B Kaniere Street Firstly an estate in fee simple as to an undivided 1/2 share in all that parcel of land containing 779 square metres (more or less) being Lot 13 on Deposited Plan 6234 and Secondly an estate in Leasehold under Lease number 13489893.4 being Flat 2 and Garage 1 on Deposited Plan S60688. Both the first and second estates being comprised and described in Record of Title 1269773 (South Auckland Registry).
Year Built*:
1959
Exterior Construction:
Brick, Concrete Block, Eifs/monolithic, Weatherboard
Roof:
Corrugated Iron
Joinery:
Aluminium
Land Area:
779 square metres (approx)
House Area*:
236 square metres (approx)
Bedrooms:
10
Chattels:
Light Fittings, Flat 1 – Curtains, Dishwasher, Fixed Floor Coverings, Heat Pump, Light Fittings, Electric Hob, Underbench Oven, Rangehood, TV and TV Bracket, Extractor Fans in bathrooms Flat 2 – Curtains, Fixed Floor Coverings, Rangehood, Electric Hob, Under Bench Oven, Heat Pump, Cupboard in 2nd bedroom, Refrigerator, Extractor Fans in bathroom Flat 3 – Curtains, Light Fittings, Fixed Floor Coverings, Fridge, TV and TV bracket, Microwave, Washing Machine, White Cupboards x 2, Wooden Table, Black Chairs, Pull Down Blinds on deck, Heat Pumps x 3, Extractor fan in bathrooms General Chattels - Various Outdoor Pot Plants 2 x Room Pod (11B) 1 x Room Pod (11A)
*Please note: the floor area and property information was sourced from Property Guru and/or LINZ.