Edgeware

81 Hills Road

7
5

Guide $1,195,000 - $1,275,000

Dream Development Desirability $1.195 - $1.275M

This property is an exciting case of what could be in an enviable location! 81 Hills Road presents as one freehold title with 5 income-producing units, all currently tenanted.

The choice is yours. Continue to rent as is, complete a top-to-toe renovation and redecorate, or make way for a blank canvas to start afresh. There's value in the untouched, and the potential to landbank, subdivide and develop all just on the fringe of the central city is a huge drawcard!

Currently, the 100-year-old villa is converted to two flats, with a separate block of three purpose-built units at the rear, now approximately 50 years old. In total, there are 2x 2-bedroom flats, and 3x 1-bedroom flats, each flat having its own off-street carport space.

Units 1, 4, and 5 have heat pumps and extractor fans, and these will also be installed for Units 2 and 3 prior to settlement date.

Units 1, 3 and 4 currently rent for $220 per week, Unit 2 for $240 per week, Unit 5 for $270 per week.

Meeting the brief for convenience of location, this property is less than 2 kilometres from the Palms Shopping Mall and is within easy reach of the CBD.

Whether you're climbing the property ladder, the savvy renovator, or the demolish and divide developer, this property is a must consider!

KEY DETAILS:
Floor Area: 320m2
Land Area: 1,075m2
CV: $620,000
LV: $310,000
IV: $310,000
Rates $5,489.22
Built: Mixed Building Age
Land: TC3
EQC: CLM/2011/143408
Insured through: NZI; Policy Number: 15-6538337-HI0; Sum Insured for: $1,250,000
School Zones: Shirley Primary, Shirley Intermediate, Mairehau High School
Bus Routes Nearby: 7, 44, 60, 100, Or Orbiter
Legal Description: LOT PT63 DP 1630

See below link for property documentation:
https://www.najibrealestate.co.nz/81-Hills-Road-Edgeware


*The accuracy of this information cannot be guaranteed, and all interested parties should seek independent advice.

Open Times

Please contact Nathan Najib to arrange an appointment.

Nathan Najib

m027 514 0775

@nathan@najibre.co.nz