Residential

Barfoot & Thompson Commercial are pleased to offer for sale this purpose-built investment property in the Auckland suburb of Manurewa.The development at 116-118 Browns Road provides purpose-built residential accommodation designed to meet the shortage of housing for individuals seeking one-bedroom units in South Auckland.The property is comprised of five separate buildings, each containing 15 one-bedroom units with ensuites, 75 studio units in total, on 2,030m² of land in close proximity to Homai railway station. Each building is on its own separate title creating an affordable investment opportunity.The buildings are leased to Maranga Fanau Charitable Trust, a substantial private entity that works closely with the government through the Ministry of Social Development and other agencies. The organisation provides a range of essential services including social housing, school mentoring, and elderly support. The lease is for 12 years at $327,600 per building. This is a fully net lease with outgoings payable by the lessee, other than rates and management fees.This property offers hassle free income in a high demand market segment with a high yield.KEY FEATURES:• 12-year lease to Charitable Trust• $297,554 net rental per building• 15 one-bedroom units per building• Fully managed• High yield• Buy one or more buildings• Call now for more details Deadline sale: Closes on Wednesday 28 May 2025 at 2:00PM (unless sold prior)