Significant Price Reduction - Lyall Bay Value! - Sold

118 Lyall Parade, Lyall Bay

  • Bedrooms4
  • Bathrooms3
  • Car Parking3
  • Living Areas3

BEO $1,099,000 Offering up to 7.4% gross return, or a superbly located seaside home and income, this has to be one of the best value properties available in Lyall Bay today!

Directly across the road from iconic Lyall Bay beach, with some of Wellington's most popular cafes and coastal activities on your doorstep, our client has never had a shortage of quality tenants lining up during their 8 years of ownership.

On offer here:
- 2 x one bedroom, generously proportioned and recently renovated flats, both with glimpses of the sea and shared outdoor living space
- 1 x two bedroom original home at the front of the site boasting expansive views and exclusive use of a large paved outdoor area facing the sea
- 2 x single garages plus one particularly large garage

Two of the garages are currently rented at $7800 per annum with a third single garage available to rent, plus there is a rental appraisal for $67,600-$73,320 per annum for the dwellings - The options here are endless! Keep renting the dwellings and garages out separately, or look at renovating the front house as your own seaside pad whilst enjoying the surrounding income streams, or even look in to creating one large single level home and keep the full site all to yourself.

This is an incredible opportunity to secure a piece of Wellington's wonderful waterfront!

Call today for an appointment to view!

Address

118 Lyall Parade, Lyall Bay

Price

Sold

Listing ID

LOWE2048

Type

Home and Income

Floor Area

160 m² approx

Land Area

524 m² approx

Rates

$3,982.60