132 Allum Street
Kohimarama, Auckland City
SOLD
10
5
2

Nest or Invest?

The plans are on the drawing board, the land is ready to exploit to the coveted Mixed Housing Urban zone and the location on a desirable street in Kohimarama needs no further promotion. This is a pre-Christmas opportunity that's just ready to go.

The two homes offer immediate rental opportunities and cash flow.
The tidy three-bedroom home at street front has a sunny aspect and open plan living flowing to a deck.
The home at the rear offers 5 bedrooms, multiple living spaces, and options.
Consider sustaining the rental status quo as you progress the project for an interim income.
Plans for the seven-unit development comprise 2 x 3-bedroom units with garaging and street frontage PLUS a further 5 x 2-bedroom units to the rear, flanking allocated parking and a utilities area.

There are MULTIPLE OPTIONS to consider here:
1) Investment hold and enjoy the rental stream.
2) Develop the site and enjoy a significant development margin.
3) Devlopment the site, rent the houses and enjoy an increased rental stream generated from the 7 houses.
4) Live in the front or rear house while renting out the other house and sleepout using the rental stream to pay the mortgage.

The LOCATION is prime - on a top street in zone for St Thomas and St Ignatius Schools and with Eastridge shopping centre a convenient 5 minutes away. Beaches, cafes, eateries, shops and amenities are dotted along the foreshore from Mission Bay, through Kohimarama Beach and St Heliers adding up to an appealing and sought-after community. Close to the city this location is in hot demand with the groundswell of first home buyers - your likely market for the quality townhouses destined to be built here.

For all Chinese enquiries please contact Rae Zhang 021 629 912

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Property Features

Property ID: EPS25227
Land: 809m2
Bedrooms: 10
Bathrooms: 5
Listed By:Black Group Realty Limited Licensed (REAA 2008) Licensed (REAA 2008)
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Features:

  • Built-In Wardrobes
  • Close To Schools
  • Close To Shops
  • Close To Transport
  • Garden
Richard Thode, Licensee Salesperson at Ray White Epsom