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Superb Location and golden opportunity. This huge and well-presented accommodation property set on a 546sqm freehold section in Terrace Housing and Apartment Building Zone offers options to run as a boarding house or keep it as a land bank. Featuring 14 bedrooms, 3 bathrooms, it is a rare opportunity to secure a cash cow with great potential in Freemans Bay, a highly sought-after suburb just minutes from the Auckland CBD.
The property offers significant development potential due to its Residential - Terrace Housing and Apartment Building zoning, which allows for intensive terrace house or apartment development of up to 16 metres (subject to council consents).
The existing property comprises a two-level 14 bedroom boarding house which can be sold with vacant possession or with existing residential tenancies in place. $360-$380 per week for each room.
This investment opportunity is ideal for investors who are looking for a growing and secure location.
Whether as a land bank, residential cash cow or full development, this prime opportunity is a must view.