WOW - we don't see many like this! Situated on a large flat site, this amazing opportunity in hugely popular Lyall Bay offers flexibility galore, for anyone with some creative flair and an eye for serious upside in a very desirable location. With a generous, largely original, family bungalow on the front of the site, complete with an over-sized single garage and separate workshop/shed, there are also four 1-2 bedroom 1970s flats at the rear, all on a single title. With enormous potential for significant upside, regardless of which way you want to cut it, this one definitely demands your attention.

- Original 3 bedroom family bungalow at the front of the site, approx. 170sqm^
- Enormous lounge plus adjoining dining room and second separate living
- Largely original kitchen and bathroom
- PLUS four circa 50sqm^ flats, 1970s concrete construction, each with 2 bedrooms (one double one single)
- All currently rented for $1,710pw on periodic tenancies
- The flats are very tidy, we believe there is good upside in the rents
- The rear building is rated 59% NBS (no strengthening required under current Council rules)
- Situated between the beach and Kilbirnie shops, everything you need is close by, including supermarket, schools, parks, medical / leisure facilities, cafes, bus stops... and within easy reach of the airport and the city
- RV $2,780,000 (land $1,840,000)
- Rates $13,163.37pa

This property has been in the family for over 54 years, representing four generations of loving family memories, but it is now surplus to requirements, so the family are reluctantly bidding it farewell. There is so much potential here, in such a convenient location, we are excited to see what the next owner does to really maximise the potential on offer.

Tender closes 1pm, Thursday 10th October 2024 at 8 Kent Terrace, Wellington (will not be sold prior)

Come check it out at an open home and get ready to capitalise on this amazing Lyall Bay opportunity.

(^Source: Property Guru, Floor Plan & Archive Plans)