Ray White Wellington City
Real Estate Services, Real Estate Agents
- Listing #:
- BDN35723
- Listed:
- 9 days ago
Tender: Wednesday 18th March at 12:00pm
Mount Victoria Cashflow + Development Upside
17 Home Street, Mount Victoria, WellingtonResidential House
-
- 7 Bedrooms
-
- 2 Bathrooms
-
- 1 Car Garage
-
- 160m2 Floor Area
-
- 233m2 Land Area
About this property
Positioned in tightly held Mount Victoria, this substantial late-19th century character property presents a compelling opportunity for investors seeking secure income in one of Wellington's most consistently high-demand rental locations.Configured as a dual-income investment, the property comprises two well-established dwellings.
The main residence is arranged over two levels, offering four bedrooms and a bathroom upstairs, with open-plan living, kitchen and a discreet hideaway laundry on the ground floor. The layout is practical, proven and well suited to long-term tenancy in this location.
To the rear, a separate three-bedroom dwelling provides additional income, centred around a generous kitchen, dining and living hub. This configuration has delivered a strong and consistent rental history, underpinned by proximity to the CBD, Courtenay Place, universities and public transport.
At the front of the property, a sun-drenched deck and single garage add valuable convenience, a rare and highly sought feature in Mount Victoria. Zoned City Residential, the property may offer future development or intensification potential (purchasers are advised to undertake their own due diligence). Whether retained as a high-performing dual rental, reconfigured into a home and income, or explored for long-term redevelopment, the flexibility here is significant.
Mount Victoria remains one of Wellington's most tightly held and desirable city-fringe suburbs. With enduring tenant demand, character appeal and limited supply, this is an opportunity to secure a strategic asset in a premium location. Both flats are vacant and have current rental appraisals of $850 and $750 totalling $1600pw.
Invest with confidence. Landbank, develop, or continue the proven income stream, the choice is yours.
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