Great Investment with Potential to Redevelop

15 Gowing Drive

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Listed by Simon Siddells

Great Investment with Potential to Redevelop


15 Gowing Drive

Meadowbank, Auckland

Sold - 10.10.2012

Listed by Simon Siddells

Buy yourself a cash flow! This apartment block has six one bedroom units, built in the 1960's on 931m2 of prime land.

Conveniently located on a bus route, close to the train station, it is elevated, sunny and set in great part of Meadowbank.

The property is leasehold and is owned by St Johns College Trust Board. The current lease was started in 2009 and runs for 21 years. Currently rented for $1,500 per week with potential to improve. This property is being sold fully tenanted. The lease is $36,725 per annum. Rates $6,427.22 per annum. The Council zoning is 6A and there is potential to redevelop the almost level site which has two excellent street frontages. The Improvements Value is $410,000 and the Land Value is $600,000. It is possible that the property could be made freehold through an application to the St Johns College Board.

The property is being sold through Set Date of Sale. Offers will be presented to the current Lessee at 4pm Wednesday 12th September 2012 - what is this cash flow worth to you?

Property Details

Property ID RMU21046

Category
House
Status
Sold
Bedrooms
6
Bathrooms
6

Features

Other

Close To Shops, Close To Transport



Make an Appointment

Send an enquiry about this property to the agent


Simon Siddells


Licensee Salesperson

Mobile: 027 605 8067

Phone: (09) 213 4232


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