228 Grey Street, Palmerston North
Tender 30 April 2026
4
2
1
+6
+5
Two flats on one title
An outstanding opportunity to secure an investment property comprising two individually tenanted flats on a single title - a smart addition to any property portfolio. Ideally positioned in a central location, the property is within easy walking distance of Terrace End shops, supermarkets, and local amenities, ensuring strong tenant demand from such a practical central location. Each flat is well configured, offering two bedrooms, a bathroom complete with shower, toilet, and vanity, a functional kitchen with integrated laundry facilities, and a comfortable living area. A heat pump in each flat provides year-round comfort. The front flat (approximately 63m2) benefits from a modern single garage, along with a storage shed, while the rear flat (approximately 56m2) enjoys off-street parking and partial double glazing. Set on an easy-care section requiring minimal upkeep, this is a hassle-free addition to any investment portfolio. Currently returning a combined rental income of $935 per week, the property will be offered with vacant possession for Flat 1 and a periodic tenancy in Flat 2, with a tenant who would be happy to remain. Photos of Flat 1 are available upon request, along with the property information files - enquire today. To be sold by Tender. Tenders close 4.00pm Thursday, 30th April 2026 (Will not be sold prior)
Chattels
228 Grey Street, Palmerston North
Web ID
BU210166
Floor area
120m2
Land area
331m2
District rates
$5567.33pa
Regional rates
$607.11pa
LV
$260,000
RV
$690,000
4
2
1
Tender (will not be sold prior)
Thursday, 30 April 2026, 4.00pm
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