Windfall on Waghorne
Once in a blue moon, an investment property of this calibre comes to the market. Just one street back from the beachfront, it's only a few minutes beachside walk from the cafes, shops and bars of the vibrant Ahuriri village.
Sitting on 935m2 of prime Ahuriri land, this attractive 1950's two level stucco property consists of six x 2 bedroom apartments and two x 3 bedroom apartments bringing in a combined rental of approximately $82,000 per year with the potential to increase that substantially.
The building is solid, built by and to house the builders of the Napier Hospital. Property dimensions allow the building of a third storey, affording great views of the seafront, the bay and the Kaweka Ranges.
Landbank this property for the future; unit-title it and sell the apartments off individually; turn it into holiday rentals; use the very solid shell to make four luxury apartments and add a stunning third floor; or bowl it and build.
Will not be sold prior to tender closing date.