98 Constable Street Newtown, Wellington City

Positioned directly in the high-demand Wellington Hospital fringe corridor, 98 Constable Street delivers a classic double-flat footprint purpose-built for residential investors targeting dependable tenant demand, minimal vacancy risk, and immediate cashflow fundamentals.

Key Financial Highlights

Combined Rental Appraisal: $950 per week ($49,400 per annum across two self-contained flats). Based on mid-range of Leaders property management rental appraisal.

Price: $675,000.

Potential Gross Yield: ~7.32% gross return based on full market occupancy.

Compliance Baseline: Both flats are Healthy Homes compliant, each equipped with dedicated heat pumps (upper flat includes ceiling insulation), minimizing initial capital outlay post-settlement.

Property Configuration (Two Self-Contained Flats - Approx. 107m² Floor Area)

Upper Flat (2-Bed Configuration): Light-filled living space paired with a functional kitchen/laundry combo, shower-over-bath layout, one generous double bedroom, and a second single bedroom/study well-suited for young professionals or hospital staff.

Ground Floor Flat (1-Bed + Dedicated Study/Storage): Extra-large double bedroom, spacious open-plan lounge/dining area, functional kitchen with scope to add capital/rental value over time, plus a separate bonus office/storage room suited for remote work.

Site Footprint: Manageable ~Approx. 210m² freehold site with minimal grounds maintenance requirements, keeping upkeep costs low.

Location & Tenant Demand Drivers

Medical & Professional Precinct: Walking distance to Wellington Regional Hospital-providing a continuous, recession-resilient tenant pool of healthcare workers, doctors, and nursing staff.

Urban Transport & Connectivity: Positioned right on primary bus routes connecting straight to the Wellington CBD, Government precinct, and tertiary institutes.

Vibrant Lifestyle Amenity: Minutes on foot to Newtown Village cafés, international dining, supermarkets, and essential retail, supporting steady rental appeal across seasonal cycles.

Disclaimer: Gross yield (~7.32%) is calculated using the combined written rental appraisal of $950 per week ($49,400 p.a.) against the vendor asking price baseline of $675,000. Figures represent gross returns and exclude outgoings such as Wellington City Council rates, insurance, property management, and ongoing maintenance. Prospective buyers must carry out their own independent technical, legal, and financial due diligence.

Contact us today to arrange a private viewing (021 577088) or join us at the next open home.