Buyer enquiry welcome from $810,000 plus GST if any.
Located in a gentrifying area, this art deco commercial/residential investment property offers a large 8 bedroom investment apartment and an empty commercial space ripe for redevelopment. Recently appraised by Silvester Clark for earthquake strengthening and assessed between 25-30% of the NBS, this is a rare opportunity for astute investors and developers to create something special. With the option to refit the current empty shell and the potential to unit title the property, the opportunities are endless with this unique building just off Cuba Street. Features:
? Commercial/ residential mix
? Strategic CBD location
? 2 units
? 8 bedroom residential apartments
? Potential to create another apartment
? 270m2 floor area-split 170m2 and 100m2
? Potential to unit title apartments
? Superb access to the CBD and motorway
? Currently returning circa $90,000 pa
? Outgoings circa $38,415pa (including special strengthening levy)
? The vendor will leave $100,000 in a solicitor's trust account for strengthening costs
? Engineering report available
With huge potential this is a must view for any serious property investor. Don't miss the bus on this one.