Substantial Investment Opportunity
The vendors of this block of 27 studio flats in a prime Petone location are seriously offering this tightly held investment property to the market. Opportunities like this are few and far between.
On offer is approximately 1729m2 of level site with a three-level building housing 27 studio flats. Each flat has an assigned carpark. Located a minute's walk from Jackson Street, this is a highly desirable rental location, with transport, shops and cafes all literally on the doorstep.
This substantial property features:
* 27 studio flats with carparks
* Separate freestanding maintenance storage building
* Gross income of approximately $295,000
* Following refurbishment, potential income of $337,500
* Further development possibility by splitting into individual unit titles for resale
* Investment syndication?
The property will be going to auction in February, unless sold prior. Here is a window of opportunity. Contact Lisa and Jim today for further information.