Platinum Partner
Listing Description
Listed: Wed, 8 May
SMART SPLIT RISK INVESTMENT
263 Mount Smart Road, Onehunga, Auckland City, Auckland
Details
| Attribute | Value |
|---|---|
| Property use | Retail |
| Property ID# | ADG759 |
| Agency reference | 87417 |
| Apply Online | http://www.tmsandbox.co.nz/Browse/Jobs/ApplyOnline.aspx?mode=apply_online&referenceId=2149608955&sellerId=0 |
Description
Strategically located at the corner of Mount Smart Road and Felix Street, the properties comprise three freestanding buildings totalling 1,315m² of Freehold land.
Building 1: the Hutchinson Arcade is a block of six retail shops, with long-term established tenants, including a bakery, a superette, a liquor store, a takeaway shop, and a barbershop.
Building 2: also known as 53 Felix Street, is a freestanding three-bedroom residential house, with tenants in place.
Building 3: also known as 53c-e Felix Street, is a workshop/office space.
Current combined holding income of approximately $175,149 net + GST per annum (with some vacancy), with the potential income to be approximately $218,000 net + GST per annum if fully leased.
KEY FEATURES
- Large Freehold land of 1,315m² in an upcoming area
- Combined net rentable area of approximately 737m²
- Split income streams from commercial and residential tenancies
- Long-term established tenancy in place
- Huge rental upside with owner-occupier options available
- Current holding income of approximately $176,149 net + GST per annum
- High yield investments like this are hard to find
- Motivated vendors - this one will sell