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Bay of Plenty
(0.3 Acres, 0.12 Ha)
A block of 10 Studio units plus 3 bedroom house (ex motel) fully occupied providing a regular and secure income stream grossing $143,500pa on current rentals with potential for further growth. The land is in 3 titles giving additional future options. Rateable value $1,664,000
The property is well located minutes to the Judea light industrial area and on the direct bus route to the central city. Adjacent to the property is a new 7,724m2 residential development which is already sold out off the plans. Tauranga is NZ's fifth largest city forming the Golden Triangle with Auckland and Hamilton and continues to experience substantial population and economic growth.
The overseas vendors are cashing up this multi tenanted "cash cow" providing a real opportunity for investors who are looking for a regular and steady return on their investment. Particularly at a time of uncertainty in the equities market and record low return on bank deposits.
The price listed is inclusive of GST