Property listing ID: 89166
Located in the long-established industrial precinct of Otahuhu, this property represents a significant opportunity for an investor looking for a diversified income investment. Currently split into four separate units 464m² (more or less) and occupied by two individual tenants. Both tenants have signed up new leases at market rents. Each of the units has individual access and are self-contained with their own amenities; providing the option of leasing out all of the units separately in the future thus further diversifying the income stream. The building itself is well looked after with the roof replaced last year. Zoned Mixed Use, the property presents its holder with extensive future upside as the zoning provides immense flexibility with potential uses. The highly sought-after location boasts proximity to the Otahuhu train station and both SH1 and SH20. AREA BREAKDOWN (all areas subject to final measure): • Unit 1 - 116m² • Unit 2 - 116m² • Unit 3 - 116m² • Unit 4 - 116m² KEY FEATURES: • Single Freehold title • Diversified income streams from two tenants • Sold as fully tenanted • 464m² total floor area • 769m² total land area • Mixed Use zoning gives the opportunity to live/work • Near the Otahuhu retail precinct • No body corporate • Annual CPI increases • Net income $82,942 • All units self-contained with separate amenities
Listed by Barfoot & Thompson , South Auckland Commercial Commercial (South Auckland Commercial)