Possible gross rent multiplier on the city fringe. Sought after location, 18 and 20 First Avenue, Whangarei offers a unique opportunity for developers and or investors.
Very rarely does an investment proposition like this present itself to create multiple units in such a desirable location. Positioned on two freehold titles comprising a total of 2024m2, there are options to buy one or buy both. Situated within the avenues these properties are close to the city centre and within walking distance to primary and pre-schools.
The two rented existing buildings, one a 1910 villa the other a 40s build, no longer have their former glory but with renovations, could be restored.
Or build individual units? The choice is yours.
Split into two titles, the 1,012m2 sites boast a 40 metre (approx.) street frontage therefore it is the perfect platform to redevelop the land and capitalise on the central location. Zoned living 2 Central City Residential the site accommodates a 14 metre height restriction. Engage an Architect to execute a design for your multi-complex.
Fully tenanted the purchaser will benefit from an immediate income.
The vendors do not wish to disturb the tenants, a “drive by is ok” , qualified purchasers – viewings are by appointment only.
Astute investors will recognise this outstanding proposition which offers both short and long term benefits. Our clients are demanding a sale. Tempt them with your offer.
Here is your chance to be part of the future of Whangarei Central – call Gwen Flynn now for more details.
Bathrooms: 3 in total
Garages: 3 in total
Location: Whangarei Central
Property ID #: GGW60135
Land Area: 1012m2 each