Units 1-9, 12 Hallenstein Street, Queenstown Hill, Queenstown, Otago

Sold

9 Units, Prime Location, Massive Income Potential

This is a rare opportunity to acquire a complex building on 961sqm of land which comprises nine freehold units. All of the units are consented with 365-day visitor accommodation consent. Currently, eight of them are being used for short-term letting, generating over $630,000 income from June 2023 to December 2023.

Unit 1: one bedroom; one bathroom; one car park; with a ski storage shed; facing street
Unit 2: one bedroom ; one bathroom; one car park; with a ski storage shed; facing street
Unit 3: three bedrooms ; two bathrooms; one car park; with a ski storage shed; private garden
Unit 4: two bedrooms ; one bathroom; one car park; with a ski storage shed; private garden
Unit 5: two bedrooms ; one bathroom; one car park; with a ski storage shed; private garden
Unit 6: three bedrooms ; two bathrooms; one car park; with a ski storage shed; viewing deck
Unit 7: two bedrooms ; one bathroom; one car park; with a ski storage shed; viewing deck
Unit 8: two bedrooms; one bathroom; one car park; No ski storage shed ; viewing deck
Unit 9: penthouse; three bedrooms; three bathrooms; double car garage; large deck wrapped around

Property Features:
• Land Area 961 sqm
• Building Area 700 sqm
• CCC obtained in year 2018
• Nine freehold units for sale in one package
• High density residential zoning
• Surrounded by reputable hotels and motels
• 850 meters walking distance to town centre
• Rateable Value of $7,770,000 (as at 1st September 2021)

Investment highlights include:
• Annual income projection is over one million dollars
• All properties are being sold fully furnished
• Current confirmed future booking income is over $300,000 (ending December, 2024)
• Property is to be sold inclusive of GST

This is an unique opportunity to secure substantial real estate in Central Queenstown. Boundaries shown are indicative only.

The property is offered For Sale by Deadline Private Treaty closing Thursday 7 March 2024 at 4pm.

View more here: bit.ly/4buhjCv