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Space, income and options in a sought-after Mt Wellington location.
Big on space and even bigger on potential, this substantial freehold property offers a rare combination of flexibility, income and future possibilities. Set on a generous 750m2; section (more or less), the property comprises two separate residences, creating an exciting opportunity for extended families, home-and-income buyers, or investors looking for a versatile addition to their portfolio.
With five bedrooms, two bathrooms, two kitchens, two living areas and plenty of off-street parking, there is room here to spread out, bring the family together, or enjoy the benefits of a second income stream.
Live in one, earn from the other. The front two-bedroom cottage is currently rented at $565 per week, with the tenant keen to stay, while the rear three-bedroom home has a rental appraisal of $650 per week. Together, these represent potential rental income of approximately $64,000 per annum. Alternatively, occupy one residence and enjoy rental income of more than $29,000 per year from the cottage alone. Separate power meters are already in place, adding further practicality to this appealing dual-living arrangement.
Both residences have their own personality and appeal. The rear three-bedroom home offers generously proportioned accommodation, indoor-outdoor flow to an elevated, north-facing deck, plus two downstairs rumpus or living areas providing welcome flexibility for families, teenagers or work-from-home space.
Full of internal character, the front cottage features two spacious bedrooms, a large living room, a sunroom, and a kitchen and dining area that give it a distinct sense of charm and independence.
And then there is the land. A substantial 750m2; freehold parcel offering plenty of breathing room today, with future possibilities to explore for those with a longer-term vision, subject to council approval.
Positioned in a highly desirable pocket of Mt Wellington, the property is zoned for Stonefields School and Selwyn College, with convenient access to SH1, key arterial routes and public transport. Lunn Avenue's popular eateries and shopping, Sylvia Park, and the Panmure and Mt Wellington train stations are all just a short drive away.
Two residences. Multiple income options. A whole lot of potential. Whether you are looking to accommodate the extended family, supplement your mortgage, strengthen your investment portfolio or secure a substantial landholding for the future, this is an opportunity with plenty to get excited about.
