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Sold Property
m2
$2,000,000
Vinay Kumar Harcourts Wellington City
Make no mistake, this is a remarkably rare opportunity in one of Wellington's most sought-after locations. A Mt Victoria offering that has to be one of the most attractive investment/development opportunities that we have seen in a very long time. An astute investor with vision and judgement can be the potential buyer. Will that be you? This 5 flat property has an amazing outlook over the city, it is positioned distinctively for all day sun and is of course only a short walk to the myriad of attractions that the World's Greatest Little Capital City has to offer. Comprising of x4 two bedroom and x1 three bedroom apartments that are all in good condition, all tenanted, and with the added bonus of 4 off street car parks. Resource consent has been approved for a 460sqm, 3-unit apartment/ townhouse development. While the building will require earthquake strengthening or redevelopment by 2027, interim rental income based on current rentals of $146,640 pa will provide cover for holding costs. The current owner with the admirable assistance of good tenants has kept maintenance and presentation to a high standard. With strong ongoing demand forecast for inner city rentals and the options to either strengthen or redevelop, plus the first rate location, this is a special Wellington opportunity.
Property Snapshot;
CV: $1,840, 000
Land area: approx. 530m²
Rental income; $146,640 pa
Tenancies; fixed until Jan 2019
Rates; $11,040
Total floor area; 480sqm approx.
5 individual Titles; All Stratum in Freehold
No Body Corp fees
Option to strengthen, sell individual units separately or redevelop the site. LIM and Engineer's reports are available to those who have viewed the property. Viewing by appointment only. An outstanding opportunity in a very good part of the city. Make it yours. Call now.
Property ID: #WL24953
Office
Licensed under REAA 2008
m2
Sold Property
Make no mistake, this is a remarkably rare opportunity in one of Wellington's most sought-after locations. A Mt Victoria offering that has to be one of the most attractive investment/development opportunities that we have seen in a very long time. An astute investor with vision and judgement can be the potential buyer. Will that be you? This 5 flat property has an amazing outlook over the city, it is positioned distinctively for all day sun and is of course only a short walk to the myriad of attractions that the World's Greatest Little Capital City has to offer. Comprising of x4 two bedroom and x1 three bedroom apartments that are all in good condition, all tenanted, and with the added bonus of 4 off street car parks. Resource consent has been approved for a 460sqm, 3-unit apartment/ townhouse development. While the building will require earthquake strengthening or redevelopment by 2027, interim rental income based on current rentals of $146,640 pa will provide cover for holding costs. The current owner with the admirable assistance of good tenants has kept maintenance and presentation to a high standard. With strong ongoing demand forecast for inner city rentals and the options to either strengthen or redevelop, plus the first rate location, this is a special Wellington opportunity.
Property Snapshot;
CV: $1,840, 000
Land area: approx. 530m²
Rental income; $146,640 pa
Tenancies; fixed until Jan 2019
Rates; $11,040
Total floor area; 480sqm approx.
5 individual Titles; All Stratum in Freehold
No Body Corp fees
Option to strengthen, sell individual units separately or redevelop the site. LIM and Engineer's reports are available to those who have viewed the property. Viewing by appointment only. An outstanding opportunity in a very good part of the city. Make it yours. Call now.
Property ID: #WL24953
Vinay Kumar Harcourts Wellington City
Office Harcourts Wellington City Licensed under REAA 2008
If you like what you see, but know you'll need to sell before buying, why not find out what you could be sitting on today with an instant Digital Property Appraisal, highlighting the market value including the recent sales, rental history, suburb insights and more.
$2,925,000 95 Brougham Street, Mt Victoria, Wellington 6011
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