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7 bedroom investment property with proven cashflow

Fernhill/Sunshine Bay, 8 MacKinnon Terrace

$1,195,000

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Listing Number: QT5739
About this listing
With seven bedrooms in a convenient location close to Queenstown, 8 Mackinnon Terrace represents an incredible opportunity for the savvy investor.

This home is a proven rental property and ideal for someone looking for a strong investment or for a local business or employer needing staff accommodation. Seven bedrooms are extremely rare in Queenstown and this property therefore has a unique capacity for consistent and strong cashflow.

A local business currently rents the property for $1,550 per week and, based on the asking price of $1,195,000, this represents a 6.7% return on investment. However, a current rental assessment states that the weekly rate could now be increased to $1,710, producing a substantial 7.4% return.

For your convenience the property is fully furnished. Featuring seven bedrooms, three bathrooms and an enhanced kitchen complete with white goods and two ovens. There is a double garage, and a large balcony overlooking the surrounding mountains with views to Lake Wakatipu.

This would be a simple purchase - the property is in a tidy condition, easily rentable and close and convenient to central Queenstown. Queenstown's shortage of rental property would put this spacious home in very high demand and could provide you with great returns immediately. Our owner will also supply an independent building inspection for your ease.

Contact Kirsty or Adam today for more information, the full rental assessment or to arrange your inspection. This rare property has a lot to offer as an astute investment opportunity or staff housing.
Property Information
  • Land Size: 750 sqm
  • Tenure: Freehold
  • Property condition: Renovated, Good
  • Property Type: House
  • House style: Executive
  • Garaging / carparking: Internal access, Double lock-up, Off street
  • Construction: Plaster and Linea & Timber
  • Joinery: Aluminium
  • Roof: Iron
  • Insulation: Upgraded to meet new regulations, Ceiling
  • Flooring: Carpet and Vinyl
  • Window coverings: Drapes, Blinds
  • Heating / Cooling: Woodfire (Closed), Ducted heating, Electric, Other (Ventilation System & Heat Pump x 2)
  • Electrical: Satellite dish, TV points, TV aerial, Phone extensions
  • Property Features: Smoke alarms
  • Chattels remaining: Dishwasher, Blinds, Fixed floor coverings, Light fittings, Stove, Curtains
  • Kitchen: Modern, Dishwasher, Separate cooktop, Separate oven, Rangehood, Double sink, Waste disposal, Microwave, Gas bottled, Pantry and Finished in Laminate
  • Living area: Separate living, Separate dining
  • Main bedroom: Double and Walk-in-robe
  • Ensuite: Separate shower
  • Bedroom 2: Double
  • Bedroom 3: Double
  • Bedroom 4: Double
  • Bedroom 5: Double
  • Bedroom 6: Double
  • Bedroom 7: Double
  • Additional rooms: Conservatory / sunroom, Family
  • Main bathroom: Bath, Separate shower, Exhaust fan
  • Laundry: Separate
  • Views: Bush
  • Outdoor living: Clothes line, Garden, Deck / patio
  • Fencing: Partial
  • Land contour: Flat to sloping
  • Garden: Garden shed
  • Water heating: Gas
  • Water supply: Town supply
  • Sewerage: Mains
  • Locality: Close to transport

Contact Details

Property Location

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