593m2 of RMD Land With Holding Income

St. Albans, 1 & 2/25 Hills Road

Block of 2 x 2 bedrooms units on separate title. Situated on 592m2 of Residential Medium Density, TC3 land. Situated on the edge of the four avenues in St Albans-Edgeware.

  • 2 x 2
  • 2
  • 2
  • Negotiable Over $879,000

Property Information

  • Listing #S2124
  • Legal description Flats 1 & 2 DP 28627 on Lot 2 DP 22868 having share in 592m²
  • CT number CB10F/301 & CB10F/302
  • Land Area 592m²
  • Floor Area 70m² & 70m² Total 140m²
  • Land Zone RMD TC3
  • Land Value F1 $133,000 F2 $127,000 Total $260,000
  • Improvements F1 $142,000 F2 $148,000 Total $290,000
  • Capital Value F1 $275,000 F2 $275,000 Total $550,000
  • Rates F1 $2,023.61 p.a. F2 $2,023.61 p.a. Total $4,047.22 p.a.
  • Parking Double garage plus additional on-site parks
  • The above information has been supplied by either the vendor* or by outside agencies like CCC, LINZ, Property Guru, etc. Accordingly, Braziers is merely passing over this information as supplied to us. We cannot guarantee its accuracy and reliability as we have not checked, audited, or reviewed the information and all intending purchasers are advised to conduct their own due diligence investigation into this information. To the maximum extent permitted by law Braziers does not accept responsibility to any person for the accuracy or use of the information herein.

These units are well maintained and presented. Each unit has an updated kitchen with plenty of cupboards and laundry facilities. Spacious and sunny living areas with heat pumps. Two double bedrooms with wardrobes. Tidy bathrooms with shower over bath, vanity and toilet. There is a double garage with two single garage doors and plenty of off-street car parks.

• 2 x 2 bedroom flats on separate titles.

• 592m2 of RMD land zoned TC3 .

• Dimensions 12.96x 45.24

• Good holding income.

• Landbank or redevelop.

Currently tenanted at $400.00 per week fixed until 10/11/2022 and $385.00 per week on periodic tenancy. A total weekly income of $785.00 per week = $40,820.00 per annum. Rental Assessment of $430.00 per week so potential to increase rental return.

These units are handy to the CBD, Victoria Street shops and Hagley Park. Only a short drive to The Palms Shopping Centre, Merivale Mall and local shops at Richmond and Edgeware Village.

A great opportunity to purchase a small residential block. Ideal Home and Income or for any investor to add to their portfolio or developer looking for land for their next project.

To view, call Braziers on (03) 377 7122

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Email Rebecca Manawatu about 1 & 2/25 Hills Road

Email Neil McLaughlin about 1 & 2/25 Hills Road