Presenting an opportunity to purchase a multi-tenanted residential investment with real upside in a prime location on the main route into the CBD.

The 1,662 sqm site, zoned medium density residential, is improved by a fully furnished two storey apartment block with 4 x 1-bedroom units plus a stand-alone 3 bedroom dwelling.

The 5 units provide a net income (after all expenses paid) of approximately $79,000 (inc GST), with management agreements in place for three tenancies.

The buildings are in great condition and there is scope for additional development on the excess land available.

The property is accessed from Coronation Avenue with a wide frontage to Frank Wilson Terrace. Positioned opposite the New Plymouth raceway and $50m Community Hub development due for completion in 2028. 

Positioned on the main route into the CBD on State Highway 3, within metres of the Western Institute of Technology and New Plymouth Boys High School.

Expressions of Interest

For more information or to arrange an inspection contact:

Benet Carroll
+64 210 289 4537

benet.carroll@collierswgtn.co.nz

Please note: all floor areas are approximated only.
 

Features:

• Site Area: 1,662 sqm (approx.)
• 4 unit apartment block
• 3 bedroom stand-alone dwelling
• Excellent location opposite Community Hub
• Sought after suburb close to CBD
• Frontage to Frank Wilson Terrace
• Net Return of $79,000 (est.)

More information: https://www.colliers.co.nz/p-NZL67040896