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House

32 Bulwer Road Te Hapara, Gisborne District 4010

Sold on 26 Mar 2015
  • 16 Beds
  • 8 Baths
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House in Te Hapara

CASH FLOW + DEVELOPMENT = WINNING COMBINATION!

  • 16 Beds
  • 8 Baths

Whether you are looking for maximum cash flow for minimal effort and/or a project to add value and increase turnover, this property certainly delivers both. Set up as flats with current returns of approximately $120,000 per year, this property already provides an excellent return on investment plus the opportunity exists to further develop the existing flats adding another 10 rooms and substantially increase returns.
Zoned residential the 9846m2 of land has the potential to be subdivided to recoup part of the purchase cost or perhaps build or re-locate additional rental housing. The vendors are reluctantly selling and due to a health issue are not able to develop this property to its full potential.
With this many options at your disposal I suggest taking the time to view this rewarding property to best determine what you would do.

Property ID:

GIS22067

Land:

9,846m² / 2.43 acres

Bedrooms:

16

Bathrooms:

8

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