Central City Opportunity
5 Park Avenue, Grafton, Auckland
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This large 771sqm level site is situated in a prime location close to Auckland Hospital and Newmarket. Zoned Mixed House Suburban, this is a unique opportunity for development.
The freehold property currently contains 6 individual flats ranging from 1-3 bedrooms, so the option also exists for a future minded buyer to upgrade and receive a good rental return whilst still land banking for the future.
Upgrades in recent years has included re-piling, a new roof, and upgraded ceiling and underfloor insulation. School zones include Auckland Grammar, Newmarket School, Parnell School and Auckland Girls Grammar. Close to public transport, motorway on ramps and within easy walking distance to the city and the Domain, this desirable location has a lot to offer.
• 771 sqm freehold site
• Zoned Mixed Housing Suburban
• 6 X individual flats returning approx $125,000 when fully let
• 6 X off street carparks and 1 lock up garage.
• Repiled, new roof and upgraded ceiling and underfloor insulation
• CV of $2,650,000 as at 2017