Sold
11 Cross Street,
Regent, Whangarei District
NZD 2,050,000
Property details
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Agents
Ray White Whangarei: Goode Leith Realty Limited Licensed (REAA 2008)
131 Port Road, Whangarei Whangarei District 0110
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Deceased Estate Cash Cow
There's significant upside to be realised in this former motel complex situated in central Whangarei, whether through refurbishment or complete redevelopment.
The property features a multi-unit residential setup comprising 3 studio apartments, 9 one-bedroom apartments, and a 4-bedroom home, currently generating $176,000 gross per annum, with 3 units currently vacant.
There's an opportunity to increase this income significantly (up to 60%) with the refurbishment of the units. The layout allows for phased refurbishment of the units, ensuring an income stream throughout the upgrading process.
Located in the Regent area, just behind New World and adjacent to Whangarei Primary School, the property enjoys excellent connectivity. A shared pathway only metres up the road connects it southwards to the CBD and northwards to the Kensington Sports fields and further on to Kamo.
Positioned on a flat volcanic section elevated above sea-level, the land provides a secure foundation for a sound investment. Whether renovating the existing single-level concrete block complex surrounding a central parking area or opting for redevelopment, the property offers promising opportunities for potential investors.
Contact John on 0272 808 980 today to discuss this opportunity.
For sale by Auction, 3:00pm Thursday 19 September (unless sold prior).
The property features a multi-unit residential setup comprising 3 studio apartments, 9 one-bedroom apartments, and a 4-bedroom home, currently generating $176,000 gross per annum, with 3 units currently vacant.
There's an opportunity to increase this income significantly (up to 60%) with the refurbishment of the units. The layout allows for phased refurbishment of the units, ensuring an income stream throughout the upgrading process.
Located in the Regent area, just behind New World and adjacent to Whangarei Primary School, the property enjoys excellent connectivity. A shared pathway only metres up the road connects it southwards to the CBD and northwards to the Kensington Sports fields and further on to Kamo.
Positioned on a flat volcanic section elevated above sea-level, the land provides a secure foundation for a sound investment. Whether renovating the existing single-level concrete block complex surrounding a central parking area or opting for redevelopment, the property offers promising opportunities for potential investors.
Contact John on 0272 808 980 today to discuss this opportunity.
For sale by Auction, 3:00pm Thursday 19 September (unless sold prior).
Explore the area
School catchments
- Whangarei School Primary Years 1-6 State 0.13km
- Whangārei Boys' High School Secondary Years 9-15 State 0.24km
- Whangārei Girls' High School Secondary Years 9-15 State 0.39km
- Whangarei Intermediate Intermediate Years 7-8 State 0.73km
- Te Kāpehu Whetū Composite Years 1-15 State 1.5km
- Renew School Composite Years 1-15 State integrated 1.6km
- St Francis Xavier Catholic School (Whangarei) Primary Years 1-6 State integrated 1.6km
- Whau Valley School Primary Years 1-6 State 1.9km
- Morningside School Primary Years 1-6 State 2.0km
- Te Kura O Otangarei Full primary Years 1-8 State 2.4km
- Hora Hora School (Te Mai) Primary Years 1-6 State 2.5km
- Whangarei Adventist Christian School Full primary Years 1-8 State integrated 2.6km
- Tikipunga Primary School Primary Years 1-6 State 3.4km
- Te Kamo Intermediate School Intermediate Years 7-8 State 3.5km
- Manaia View School Full primary Years 1-8 State 3.6km
- Tikipunga High School Secondary Years 7-15 State 3.7km
- Te Kamo High School Secondary Years 9-15 State 3.9km
- Totara Grove School Primary Years 1-6 State 4.2km
- Te Kamo School Primary Years 1-6 State 4.2km
- TKKM o Te Rawhiti Roa Composite Years 1-15 State 4.4km
- Pompallier Catholic College Secondary Years 7-15 State integrated 5.2km
- Excellere College Composite Years 1-15 State integrated 5.6km
- Huanui College Secondary Years 7-15 Private 6.5km
- Tauraroa Area School Composite Years 1-15 State 19.7km
- Bream Bay College Secondary Years 7-15 State 21.5km
- Mangakahia Area School Composite Years 1-15 State 23.7km
- Te Kura o Waikare Composite Years 1-15 State 42.6km
- Bay of Islands College Secondary Years 9-15 State 43.6km
Nearest schools, measured in a straight line from the property. Provided as a guide only; check enrolment zones and eligibility with the school. School data © Ministry of Education, licensed under CC BY 4.0.
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