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ID#332499

Newtown

Wellington South
Tender
5
2
Approx
150
(≈1,614.59 sq.ft.)
Approx
646
(≈6,953.48 sq.ft.)
proudly marketed by
Adam Cockburn
Lowe & Co Realty
Adam
+64 (0)21 409 637
Message Me

$$$ 2-FLAT NEWTOWN INVESTMENT $$$

Situated on a private site among lots of mature trees, your tenants will enjoy the extremely convenient location, the privacy, the sun, and the peace of living among their own private glen of mature trees.

* Hanson St offers a super convenient location - close to central Newtown and the city - whilst also being quiet (especially given this property in particular is nicely set back from the road).
* This site is rather special, with an abundance of mature trees and a small stream - create your own private magic garden!
* Upstairs is a 3 bedroom flat (in my view this could be utilised as a 4 bedroom flat) that is horribly under-rented for $300pw on a periodic tenancy since 2007.
* Downstairs is a 2 bedroom flat currently vacant.
* The entire property would benefit enormously from a total makeover, which would produce significant rental upside.
* The large site includes a generous garden in the front, which may possibly present an opportunity for further development - subject to local authority and building act requirements of course.
* RV $550,000

There are several options here:
1. leave it as is and bring the rents to proper market levels. You will never struggle to find tenants in this location.
2. undertake renovations to maximise the rents, hence creating additional equity and cash-flow.
3. explore the potential to possibly build a new dwelling in the garden, for even more upside (please note: I am not certain this is possible - buyers are advised to conduct their own investigations and research).

There is work to be done here, with upside to go with it. Come check it out at an open home, or give me a call for more information.

Keywords

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  • Investment

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Agent

Adam Cockburn

Lowe & Co Realty

Licensed Real Estate Salesperson (REAA 2008), Member of the REINZ

Hi, my name is Adam.

I love Wellington real estate! I caught the bug after reading a Dolf De Roos book in 1998, and bought my first property in Adam's Terrace, Aro Valley, just before I headed off to London for a number of years. I kept buying property, mainly in London and Auckland, whilst living in the UK, returned back to Wellington in 2005, and have been selling Wellington real estate since 2007. Having started out in sales during the biggest recession since the 1930s, this means that I have had to develop good habits from the start, to make sure I deliver the best service, and achieve the best results, for my clients when they want to sell their Wellington real estate.

I have lived in many different neighbourhoods, including Wadestown, Kelburn, Ngaio, Thorndon, Highbury, Rongotai, Miramar and Seatoun. Wellington is a great city and we should be proud of it. It is vibrant and alive, it is the cultural and coffee capital of the country, it is beautiful whilst also being an easy city to live in, due to it's compact nature.

So if you are looking to buy or sell Wellington real estate, give me a call. I will follow up every lead and turn over every stone, to make sure we achieve the best results possible together.

I look forward to working with you.

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This property was photographed by

David Garratt

Wellington Central/North

ID#332499

Newtown

Wellington South
Tender
proudly marketed by
Adam Cockburn
Lowe & Co Realty
Adam
+64 (0)21 409 637
Message Me

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