Opportunities like this are about as rare as hen's teeth... perhaps even rarer! Four 2-bedroom flats, all on separate unit titles, generously proportioned with character features retained, on a gently sloping site in city end Mount Victoria, on a quiet street with good sun.
WCC have determined the building is earthquake prone and has given the owners until 2027 to remedy the situation.
- Four 70sqm* 2-bed 1-bath flats
- Land area 357sqm*
- Each flat is in various states of presentation
- Flat 1: rented for $540pw until March 2020
- Flat 2: currently vacant and available for rent
- Flat 3: rented for $495pw until December 2020
- Flat 4: rented for $480pw until February 2021
- One single garage plus 3 car spaces on site
- Total RV $1,490,000
- Total Rates $7,275.17pa
For Sale by TENDER - BEO $995,000:
- Closes 1pm Thursday 05 March 2020
- At Lowe&Co Realty, 8 Kent Tce, Wellington
- The vendors will not be considering offers prior to the deadline
With a location that is hard to beat, and with incredible holding income in place until you get your plans worked out, the re-development opportunities here are awesome. Come check it out and be ready to make your offer on tender day.
(*source: property guru)