In the heart of the double grammar zone lies a prime opportunity that offers so much potential it can only be described as investment or development gold.
Set on a 660m² (mol) freehold site, there are three units under one title with a total gross yield of $77,220 per annum. It is rare indeed to find a property like this with such favourable zoning under the Auckland Unitary Plan - "Business - Mixed Use Zone", which offers flexibility for residential and/or commercial development and makes for an extremely valuable land holding.
The prime Epsom position is a huge drawcard, located in the heart of the DGZ and only 1km away from the ASB Showgrounds. Mt Eden, Cornwall Park and the bustling Newmarket are all close by, easily accessible by car or public transport. Easy access to the motorway makes this central position even more desirable and CBD is only a short drive away.
On the market after more than 50 years of ownership, you will appreciate how scarce these opportunities are. Each unit offers two-double bedrooms, with lounge / dining area, separate kitchen and have good tenants who are keen to stay on. Choose to land bank and enjoy the rental income or develop into townhouses or apartments (subject to Council approval - please conduct your own due diligence).
The vendors' instructions clearly state that this must be sold, so make sure you are the savvy buyer who wins this excellent opportunity. Enquire now for more information!
