- Current buildings divided into 15 residential units of various configurations
- Fully tenanted and currently returning $427,960 p.a.
- Large freehold land holding approx. 4,970sqm
- Zoned Residential Mixed Housing Suburban
- Surplus land at the rear of the property gives potential to build up to 6 new terrace houses (subject to local authority approval)
- Walking distance to public transport, only approx. 1.6 kms to Train Station
- Close to all amenities
- Alternative uses may include (subject to local authority approvals), Retirement, specialised medical, boarding house, educational centre, church use and more
- Property has significance to the story of Auckland’s history and is an outstanding ‘must see’ property
- Motivated vendor selling as moving overseas
A landmark property, which was originally built as a children’s orphanage (1 of only 3 in Auckland) and has since been converted and consented for 15 individual residential units returning currently $427,960 per annum. The Property is under-rented so there is an opportunity for immediate upside for the incoming purchaser. The property is freehold and has a generous land area of approx. 4,970sqm. Zoned Suburban and has the potential to add up to 6 new dwellings at the rear (subject to local authorities’ consent).
Many tenants have been in occupancy for numerous years providing a stable constant rental income.
If you are looking for an add-value investment with further development potential this is the perfect opportunity.
Vendors are leaving New Zealand and want this property sold.
We will have open home viewings in the coming weeks. Please join us on Tuesdays, 10th, 17th, and 24th September, from 4.30pm to 5.30pm and Thursdays, 5th, 12th, 19th, 26th September, from 12:00pm to 1:00pm. We look forward to welcoming you and showcasing the property.
25 Montilla Place, Manurewa is being sold via Deadline Private Treaty, closing at 2:00pm NZST on Thursday 26 September 2024 (unless sold prior).
