Multiple dwellings on a premium site means a fantastic opportunity for the savvy investor. Consisting of 3, 2-bed dwellings (an older cottage and 2 purpose-built units) on a single title. Currently under-rented at $730 per week with long-term tenants, current rental appraisals show a possible return of up to $840 per week ($43,680 per annum), with potential for more with upgrades.
Alternatively, the site could be developed as the location is second to none, being literally walking distance to town and inner harbour area, and across the road from the extremely popular Gisborne Farmers Market with the potential for a business location (subject to Council approval). The older cottage on the Ormond Road frontage could be removed and replaced with a new dwelling, units or business premises and there is also scope for subdivision.
For sale by negotiation, call us for more details or to arrange a time to view
