2 Farmhouse Lane, St Johns, Auckland

Big residential complex with rental growth upside

• Established residential accommodation asset - Maidstone Lodge
• Comprises 125 units plus two manager's apartments, all on one title
• Underpinned by 3,319sqm fee simple land, zoned Business - Mixed Use
• Opportunity to increase return through further refurbishment and rental growth
• Undervalued asset with big add-value opportunity

A seldom available chance to purchase a large scale City Fringe residential accommodation asset. The property comprises 125 rooms, each with private bathroom facilities, with generous common areas, lounges and cooking facilities.

Car parking for 50 cars is also provided on site. This proven cashflow investment also provides an opportunity to increase rental returns through refurbishing and upgrading individual rooms (approximately 1/3 of the rooms have been newly refurbished over the last two years).

This strategic St Johns location provides easy access to amenities (including being a short walk to Countdown Supermarket) along with being well located to public transport links including the nearby train station.

Call now for further information on this high-performing residential investment.