15-bed apartment for sale, 540 m²
Whanganui, College Estate
15 bedrooms·12 bathrooms
1.100.385 €
2.038 €/m²
Listed Jul 3, 2026
About this listing
The Bournes are proud to present to discerning investors this exceptional opportunity to secure a high-performing investment property. Healthy homes compliant and currently with 100% occupancy, this solid brick residential boarding house offers strong yields of 10% + and low maintenance appeal. Comprising of six studio units, four one bedroom units, and a five bedroom house providing a total of 15 bedrooms and 12 bathrooms, along with a communal kitchen and laundry facilities, this property currently generates an income in excess of $232,000 annually. The one bedroom units all feature a kitchenette along with a spacious lounge / dining area and with an ensuite coming off the king sized bedroom. The studio units have a convenient open plan layout with separate bathroom, kitchen bench and fridge space. All units have ranch sliders providing indoor / outdoor flow to either a patio or deck. Each room features a heat pump and gas hot water. Wi-Fi is provided across the property. The five bedroom house has a full kitchen with gas stove, dishwasher and an abundance of storage space. There is a modern combined bathroom / toilet along with a second separate toilet and laundry. The spacious living area enjoys the comfort of a wood burner for the cooler months. Spread across 1475sqm of prime real estate in College Estate, there is an abundance of off-street parking and spacious communal grounds. The opportunity remains to reinstate the swimming pool or fill it in to make a grassed outdoor area. Independently provided rental appraisals demonstrate increased potential yield of over 11% from the highly in demand accommodation on offer. With a per annum income of over $262,000 achievable. This is a rare chance to own a sought-after, income- generating asset in a high-demand rental market in close proximity to town, cafes, shops, hospital, and public transport. A spreadsheet of income and outgoings is available on request.
What's included
Parking
Key Stats
Key Stats
Area540 m²
Bedrooms15
Bathrooms12
MunicipalityWhanganui
Location
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