209 Valley Road,
Mt Maunganui / Papamoa
* 642m²≈6,910 sq.ft. 1,561m²≈16,802 sq.ft. (0.16 Ha)
247 Cameron Road, Tauranga (unless sold prior)
1561sqm Prime Real Estate in Mount Maunganui
Built in 1967, the motel situated on the corner of Valley Road and McDowell St was chosen for its close proximity to the beach - a short stroll has you on the sand and in the surf within minutes. Today, over 50 years on, the Blue Wave Motel is as popular as ever, particularly with families. Now you have a rare opportunity to own your own slice of Mount Maunganui treasure. This prime corner site has huge potential, whether you're looking for a solid income, a secure investment or development land for the future.
The property currently provides a home and income option with an attractive annual net surplus. Five of the seven one-bedroom units have recently been upgraded. All are fresh and tidy; one has wheelchair access. Four units have ranch-sliders leading onto their own deck, so at the end of the long hot day at the beach guests can enjoy a BBQ in their own outdoor space. There are four utility rooms which house the laundry, linen storage and of course, the surfboards! The 210sqm Manager's house has always been owner-occupied, offering three bedrooms with two bathrooms. The current owners converted the garage into a large rumpus area which has a kitchenette - great for extended family and extra guests.
Being positioned on a 1,561sqm corner site, there is an opportunity for subdivision which may offer potential for up to four freehold sites. Alternatively, the property would be a great land bank site whilst offering a healthy holding income from the motel business.
Real estate with potential like this doesn't present itself often. Be the first to discover this gem - phone Jan or Brendon today.