ONE MILLION DOLLARS BELOW C.V!

18 Saint Georges Bay Road, Parnell

$2,450,000

Property ID : CRE13218

Description

Yes its true! We have just listed this property at more than $1,000,000 under the current 2017 Capital Value.
The asking price is $2,450,000

This character-packed property is waiting and ready to be bought back to its former glory, in a location that well supports any investment, being double-grammar zoning and walking distance to Parnell shops, local markets, boutique retail, dining destinations and the CBD.

This Grand Lady has been in the same ownership since 1955 when it was divided into three fully self-contained flats all with long-term tenants keen to continue occupancy, plus the added bonus of a detached studio makes this property an immediate earner for your investment portfolio - generating an annual rental income in excess of $65,000. First time on the market in 64 years, our overseas vendors are eager for rapid results!

Keep the tenants and give it a polish or look to demolish and talk to Council to take advantage of THAB (terraced housing and apartment building zoning) to unlock the full development potential of this prestigious Freehold 761sqm Parnell site.

An exceedingly rare opportunity to acquire a home and holding income with sky-high development potential among some of Auckland's premium dress-circle properties.

For more information, facts and figures along with Development Assessment - Give John a call and get the process underway today!

021 949 100

Accommodation 4 bedroom(s) , 4 bathroom(s)
Land Area 761 m2
Floor Area 284 m2
Price $2,450,000
Chattels Stove, Fixed floor coverings, Light fittings, TV Aerial