3 Park Avenue, Grafton

price information

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315m² Floor Area

771m² Land Area

MORTGAGEE SALE - INCOME PLUS DEVELOPMENT POTENTIAL

If you are looking for a property with substantial income in a great location with development potential then look no further!

3 Park Avenue is conveniently situated with its close proximity to the CBD, major education institutions, hospitals, and the Auckland Domain.

The two-level dwelling dates back to 1900 and is configured into nine residential flats. Six flats are currently generating circa $140,000 gross income per annum, with a further two under renovation and one not inspected.

The 771m² site, zoned Mixed Housing Suburban, is ripe for development. In addition, the National Policy Statement of Urban Design may allow buildings up to six levels (subject to council approval).

771m² site with a substantial income of circa $140,000 gross
Walking distance to Auckland Hospital, CBD, Auckland Grammar, The University of Auckland and AUT
Mixed Housing Suburban zone and possible NPS provides future development opportunities
Investors, developers and land bankers must inspect

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